Stocks falling to new 52 week lows on May 9 are Ivanhoe Mines Ltd, U.S. Silica Holdings, Inc, Alexco Resource Corporation, Riverbed Technology, Inc, and Virtusa Corp. Investors are selling the stock and pushing it lower because they may think that these stocks were overvalued. This could be caused by earnings not meeting expectations, investor speculation, or a fall in market growth.
Shares of Ivanhoe Mines Ltd. (IVN) fell by 3.24% or $-0.32/share to $9.56. In the past year, the shares have traded as low as $9.65 and as high as $27.50. On average, 3403370 shares of IVN exchange hands on a given day and today's volume is recorded at 1227973. The shares are currently trading below the 50-day and 200-day moving averages which indicates that the shares have been experiencing downward momentum. The stock may bounce back to test the 200-day moving average. Thus, you may want to pay close attention for a move up to the $14.80 area but be careful because the stock may face selling pressure at this level.
Shares of U.S. Silica Holdings, Inc. (SLCA) fell by 4.17% or $-0.65/share to $14.93. In the past year, the shares have traded as low as $15.38 and as high as $22.14. On average, 382500 shares of SLCA exchange hands on a given day and today's volume is recorded at 144060. The shares are currently trading below the 200-day moving average which indicates that the shares have been suffering from downward momentum lately. The stock may bounce higher to test the 200-day moving average, so look for a move up to the $18.06 area where the stock may encounter resistance.
Shares of Alexco Resource Corporation (AXU) fell by 0.15% or $-0.01/share to $5.56. In the past year, the shares have traded as low as $5.52 and as high as $9.32. On average, 316830 shares of AXU exchange hands on a given day and today's volume is recorded at 220304. The shares are currently trading below the 50-day and 200-day moving averages which indicates that the shares have been experiencing downward momentum. The stock may bounce back to test the 200-day moving average. Thus, you may want to pay close attention for a move up to the $6.83 area but be careful because the stock may face selling pressure at this level.
Shares of Riverbed Technology, Inc. (RVBD) fell by 3.5% or $-0.63/share to $17.36. In the past year, the shares have traded as low as $17.81 and as high as $41.83. On average, 4015460 shares of RVBD exchange hands on a given day and today's volume is recorded at 1425557. The shares are currently trading below the 200-day moving average which indicates that the shares have been suffering from downward momentum lately. The stock may bounce higher to test the 200-day moving average, so look for a move up to the $25.28 area where the stock may encounter resistance.
Shares of Virtusa Corp. (VRTU) traded higher by 3.96% or $0.47/share to $12.33. In the past year, the shares have traded as low as $11.80 and as high as $21.79. On average, 49300 shares of VRTU exchange hands on a given day and today's volume is recorded at 33672. The shares are currently trading below the 200-day moving average which indicates that the shares have been suffering from downward momentum lately. The stock may bounce higher to test the 200-day moving average, so look for a move up to the $15.35 area where the stock may encounter resistance.
