Among the most volatile stocks traded on May 18 were: Schnitzer Steel Industries Inc, Zumiez, Inc, Shoe Carnival Inc, CytRx Corporation, and hiSoft Technology International Ltd. These stocks are risky as they have high volatility. Since these stocks carry a lot of risk, they will usually provide large returns. This high volatility could be caused by their business strategy or the type of sector they are in.
Shares of Schnitzer Steel Industries Inc. (SCHN) fell by 10.79% or $-3.49/share to $28.85. In the past year, the shares have traded as low as $32.26 and as high as $59.29. On average, 322860 shares of SCHN exchange hands on a given day and today's volume is recorded at 638800. 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 $39.22 area but be careful because the stock may face selling pressure at this level.
Shares of Zumiez, Inc. (ZUMZ) fell by 7.31% or $-2.57/share to $32.59. In the past year, the shares have traded as low as $15.85 and as high as $38.99. On average, 416110 shares of ZUMZ exchange hands on a given day and today's volume is recorded at 568405. The shares are currently trading below the 50-day moving average but above the 200-day moving average. The stock may be range bound between these two levels where the 50-day moving average of $35.80 represents resistance and the 200-day moving average of $27.28 would be an area of support.
Shares of Shoe Carnival Inc. (SCVL) traded higher by 7.05% or $1.40/share to $21.27. In the past year, the shares have traded as low as $12.79 and as high as $22.70. On average, 106800 shares of SCVL exchange hands on a given day and today's volume is recorded at 104775. The shares are currently trading above the 50-day moving average which indicates that the shares have been experiencing strong upward momentum as the 50 DMA is above the 200 DMA. The stock may come back down to test the 50-day moving average, so look for a move back to the $19.82 area where the stock will likely see buying pressure.
Shares of CytRx Corporation (CYTR) traded higher by 0.33% or $0.01/share to $3.01. In the past year, the shares have traded as low as $1.68 and as high as $6.93. On average, 173500 shares of CYTR exchange hands on a given day and today's volume is recorded at 118916. The shares are currently trading above the 50-day moving average which indicates that the shares have been experiencing strong upward momentum as the 50 DMA is above the 200 DMA. The stock may come back down to test the 50-day moving average, so look for a move back to the $2.54 area where the stock will likely see buying pressure.
Shares of hiSoft Technology International Ltd. (HSFT) fell by 2.6% or $-0.39/share to $14.6. In the past year, the shares have traded as low as $8.02 and as high as $16.43. On average, 173700 shares of HSFT exchange hands on a given day and today's volume is recorded at 12289. The shares are currently trading below the 50-day moving average but above the 200-day moving average. The stock may be range bound between these two levels where the 50-day moving average of $14.98 represents resistance and the 200-day moving average of $12.01 would be an area of support.
