Stocks falling to new 52 week lows on May 16 are Sandridge Mississippian Trust II, Checkpoint Systems Inc, First Solar, Inc, Ivanhoe Mines Ltd, and Rubicon Minerals Corporation. 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 Sandridge Mississippian Trust II (SDR) fell by 4.01% or $-0.84/share to $20.1. In the past year, the shares have traded as low as $20.88 and as high as $23.62. On average, 1354030 shares of SDR exchange hands on a given day and today's volume is recorded at 209770. 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 $21.95 area but be careful because the stock may face selling pressure at this level.
Shares of Checkpoint Systems Inc. (CKP) fell by 3.86% or $-0.32/share to $7.97. In the past year, the shares have traded as low as $8.27 and as high as $18.50. On average, 263310 shares of CKP exchange hands on a given day and today's volume is recorded at 109517. 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 $10.64 area but be careful because the stock may face selling pressure at this level.
Shares of First Solar, Inc. (FSLR) fell by 3.28% or $-0.50/share to $14.73. In the past year, the shares have traded as low as $15.15 and as high as $142.18. On average, 6619120 shares of FSLR exchange hands on a given day and today's volume is recorded at 2720617. 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 $22.18 area but be careful because the stock may face selling pressure at this level.
Shares of Ivanhoe Mines Ltd. (IVN) traded higher by 5.66% or $0.49/share to $9.14. In the past year, the shares have traded as low as $8.62 and as high as $27.50. On average, 3468110 shares of IVN exchange hands on a given day and today's volume is recorded at 2871316. 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 $13.95 area but be careful because the stock may face selling pressure at this level.
Shares of Rubicon Minerals Corporation (RBY) fell by 1.51% or $-0.04/share to $2.61. In the past year, the shares have traded as low as $2.63 and as high as $4.98. On average, 984860 shares of RBY exchange hands on a given day and today's volume is recorded at 825344. 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 $3.13 area but be careful because the stock may face selling pressure at this level.
