Stocks falling to new 52 week lows on May 7 are Thompson Creek Metals Company Inc, Extorre Gold Mines Limited, Zipcar, Inc, Frontier Communications Corporation, and NovaGold Resources 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 Thompson Creek Metals Company Inc. (TC) fell by 13.4% or $-0.74/share to $4.79. In the past year, the shares have traded as low as $5.37 and as high as $11.69. On average, 1893340 shares of TC exchange hands on a given day and today's volume is recorded at 5413628. 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 $6.72 area but be careful because the stock may face selling pressure at this level.
Shares of Extorre Gold Mines Limited (XG) fell by 6.25% or $-0.22/share to $3.3. In the past year, the shares have traded as low as $3.49 and as high as $15.42. On average, 131240 shares of XG exchange hands on a given day and today's volume is recorded at 155106. 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 $5.99 area but be careful because the stock may face selling pressure at this level.
Shares of Zipcar, Inc. (ZIP) fell by 7.58% or $-0.83/share to $10.06. In the past year, the shares have traded as low as $10.63 and as high as $28.74. On average, 489330 shares of ZIP exchange hands on a given day and today's volume is recorded at 360775. 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 $13.51 area but be careful because the stock may face selling pressure at this level.
Shares of Frontier Communications Corporation (FTR) fell by 6.43% or $-0.25/share to $3.64. In the past year, the shares have traded as low as $3.72 and as high as $8.07. On average, 17227810 shares of FTR exchange hands on a given day and today's volume is recorded at 23054808. 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 $4.23 area but be careful because the stock may face selling pressure at this level.
Shares of NovaGold Resources Inc. (NG) fell by 2.6% or $-0.15/share to $5.63. In the past year, the shares have traded as low as $5.75 and as high as $11.79. On average, 4148390 shares of NG exchange hands on a given day and today's volume is recorded at 1567491. 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 $7.16 area but be careful because the stock may face selling pressure at this level.
