Stocks falling to new 52 week lows on May 24 are NetApp, Inc, MakeMyTrip Limited, Partner Communications Company Ltd, GOL Linhas A, and Petrobras Argentina 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 NetApp, Inc. (NTAP) fell by 13.24% or $-4.35/share to $28.51. In the past year, the shares have traded as low as $31.94 and as high as $56.49. On average, 6635410 shares of NTAP exchange hands on a given day and today's volume is recorded at 33145848. 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 $38.80 area where the stock may encounter resistance.
Shares of MakeMyTrip Limited (MMYT) fell by 7.05% or $-1.19/share to $15.7. In the past year, the shares have traded as low as $16.00 and as high as $33.90. On average, 122590 shares of MMYT exchange hands on a given day and today's volume is recorded at 88880. 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 $20.31 area but be careful because the stock may face selling pressure at this level.
Shares of Partner Communications Company Ltd. (PTNR) fell by 4.34% or $-0.20/share to $4.41. In the past year, the shares have traded as low as $4.45 and as high as $17.16. On average, 161900 shares of PTNR exchange hands on a given day and today's volume is recorded at 67524. 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 $7.05 area but be careful because the stock may face selling pressure at this level.
Shares of GOL Linhas A (GOL) fell by 2.28% or $-0.10/share to $4.29. In the past year, the shares have traded as low as $4.25 and as high as $13.47. On average, 1582940 shares of GOL exchange hands on a given day and today's volume is recorded at 705033. 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 $6.00 area but be careful because the stock may face selling pressure at this level.
Shares of Petrobras Argentina SA (PZE) fell by 2.5% or $-0.23/share to $8.98. In the past year, the shares have traded as low as $9.08 and as high as $21.46. On average, 114150 shares of PZE exchange hands on a given day and today's volume is recorded at 56393. 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 $11.62 area but be careful because the stock may face selling pressure at this level.
