Stocks falling to new 52 week lows on May 11 are Northern Dynasty Minerals Ltd, Best Buy Co. Inc, Zynga, Inc, GT Advanced Technologies Inc, and Brightpoint Inc. 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 Northern Dynasty Minerals Ltd. (NAK) fell by 0.92% or $-0.04/share to $4.32. In the past year, the shares have traded as low as $4.32 and as high as $12.98. On average, 157240 shares of NAK exchange hands on a given day and today's volume is recorded at 43906. 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 $5.79 area but be careful because the stock may face selling pressure at this level.
Shares of Best Buy Co. Inc. (BBY) fell by 0.9% or $-0.18/share to $19.76. In the past year, the shares have traded as low as $19.79 and as high as $32.02. On average, 7516690 shares of BBY exchange hands on a given day and today's volume is recorded at 2706541. 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 $23.30 area but be careful because the stock may face selling pressure at this level.
Shares of Zynga, Inc. (ZNGA) fell by 4.91% or $-0.38/share to $7.44. In the past year, the shares have traded as low as $7.58 and as high as $15.92. On average, 14086780 shares of ZNGA exchange hands on a given day and today's volume is recorded at 9537167. 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 $11.11 area where the stock may encounter resistance.
Shares of GT Advanced Technologies Inc. (GTAT) fell by 2.5% or $-0.14/share to $5.47. In the past year, the shares have traded as low as $5.53 and as high as $17.50. On average, 2624870 shares of GTAT exchange hands on a given day and today's volume is recorded at 1472292. 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 $7.51 area but be careful because the stock may face selling pressure at this level.
Shares of Brightpoint Inc. (CELL) fell by 3.37% or $-0.20/share to $5.73. In the past year, the shares have traded as low as $5.77 and as high as $12.05. On average, 658700 shares of CELL exchange hands on a given day and today's volume is recorded at 196483. 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 $7.58 area but be careful because the stock may face selling pressure at this level.
