Stocks falling to new 52 week lows on May 30 are Banco Santander, S.A, Zynga, Inc, China Unicom (Hong Kong) Limited, Cellcom Israel Ltd, and Portugal Telecom SGPS SA. 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 Banco Santander, S.A. (STD) fell by 2.5% or $-0.13/share to $5.26. In the past year, the shares have traded as low as $5.34 and as high as $10.76. On average, 10354090 shares of STD exchange hands on a given day and today's volume is recorded at 6926516. 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 $6.53 area but be careful because the stock may face selling pressure at this level.
Shares of Zynga, Inc. (ZNGA) fell by 1.64% or $-0.10/share to $5.99. In the past year, the shares have traded as low as $5.98 and as high as $15.91. On average, 16831740 shares of ZNGA exchange hands on a given day and today's volume is recorded at 12895541. 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 $9.96 area but be careful because the stock may face selling pressure at this level.
Shares of China Unicom (Hong Kong) Limited (CHU) fell by 3.47% or $-0.50/share to $13.93. In the past year, the shares have traded as low as $14.15 and as high as $22.50. On average, 1167070 shares of CHU exchange hands on a given day and today's volume is recorded at 286545. 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 $16.54 area but be careful because the stock may face selling pressure at this level.
Shares of Cellcom Israel Ltd. (CEL) fell by 4.59% or $-0.35/share to $7.28. In the past year, the shares have traded as low as $7.40 and as high as $27.33. On average, 377530 shares of CEL exchange hands on a given day and today's volume is recorded at 117475. 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 $11.14 area but be careful because the stock may face selling pressure at this level.
Shares of Portugal Telecom SGPS SA (PT) fell by 2.73% or $-0.11/share to $3.92. In the past year, the shares have traded as low as $3.98 and as high as $9.47. On average, 344920 shares of PT exchange hands on a given day and today's volume is recorded at 243223. 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 $4.61 area but be careful because the stock may face selling pressure at this level.
