Among the most volatile stocks traded on May 7 were: Louisiana-Pacific Corp, Avis Budget Group, Inc, BroadSoft, Inc, Thompson Creek Metals Company Inc, and Tanzanian Royalty Exploration Corp. 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 Louisiana-Pacific Corp. (LPX) traded higher by 4.69% or $0.42/share to $9.38. In the past year, the shares have traded as low as $4.41 and as high as $10.18. On average, 3444740 shares of LPX exchange hands on a given day and today's volume is recorded at 1368847. 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 $8.85 area where the stock will likely see buying pressure.
Shares of Avis Budget Group, Inc. (CAR) traded higher by 2.39% or $0.38/share to $16.28. In the past year, the shares have traded as low as $8.45 and as high as $19.24. On average, 2251070 shares of CAR exchange hands on a given day and today's volume is recorded at 706414. 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 $13.58 area where the stock will likely see buying pressure.
Shares of BroadSoft, Inc. (BSFT) fell by 20.37% or $-8.33/share to $32.56. In the past year, the shares have traded as low as $21.26 and as high as $46.95. On average, 502650 shares of BSFT exchange hands on a given day and today's volume is recorded at 1630535. 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 $34.41 area where the stock may encounter resistance.
Shares of Thompson Creek Metals Company Inc. (TC) fell by 11.03% or $-0.61/share to $4.92. 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 2586164. 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 Tanzanian Royalty Exploration Corp. (TRX) fell by 7.95% or $-0.35/share to $4.05. In the past year, the shares have traded as low as $1.56 and as high as $7.82. On average, 828520 shares of TRX exchange hands on a given day and today's volume is recorded at 188929. 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 $4.14 area where the stock may encounter resistance.
