Stocks falling to new 52 week lows on May 28 are China Unicom (Hong Kong) Limited, Telecom Italia SpA, Sony Corporation, GenOn Energy, Inc, and Cabot Microelectronics Corp. 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 China Unicom (Hong Kong) Limited (CHU) fell by 2.67% or $-0.39/share to $14.22. In the past year, the shares have traded as low as $14.52 and as high as $22.50. On average, 1155840 shares of CHU exchange hands on a given day and today's volume is recorded at 1285255. 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 $16.68 area but be careful because the stock may face selling pressure at this level.
Shares of Telecom Italia SpA (TI) fell by 1.92% or $-0.17/share to $8.69. In the past year, the shares have traded as low as $8.82 and as high as $13.39. On average, 362110 shares of TI exchange hands on a given day and today's volume is recorded at 719134. 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 $10.38 area but be careful because the stock may face selling pressure at this level.
Shares of Sony Corporation (SNE) fell by 3.34% or $-0.46/share to $13.3. In the past year, the shares have traded as low as $13.55 and as high as $27.70. On average, 1812780 shares of SNE exchange hands on a given day and today's volume is recorded at 1784633. 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 $17.48 area but be careful because the stock may face selling pressure at this level.
Shares of GenOn Energy, Inc. (GEN) traded higher by 1.71% or $0.03/share to $1.78. In the past year, the shares have traded as low as $1.71 and as high as $4.14. On average, 7019300 shares of GEN exchange hands on a given day and today's volume is recorded at 8111319. 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 $2.10 area but be careful because the stock may face selling pressure at this level.
Shares of Cabot Microelectronics Corp. (CCMP) traded higher by 0.22% or $0.07/share to $32.38. In the past year, the shares have traded as low as $31.95 and as high as $53.15. On average, 182790 shares of CCMP exchange hands on a given day and today's volume is recorded at 109212. 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 $35.78 area but be careful because the stock may face selling pressure at this level.
