Among the most volatile stocks traded on May 17 were: MEMC Electronic Materials Inc, GT Advanced Technologies Inc, Pandora Media, Inc, E-Commerce China Dangdang Inc, and McEwen Mining Inc. 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 MEMC Electronic Materials Inc. (WFR) fell by 20.19% or $-0.43/share to $1.7. In the past year, the shares have traded as low as $2.07 and as high as $10.84. On average, 7040550 shares of WFR exchange hands on a given day and today's volume is recorded at 7369025. 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 $3.51 area but be careful because the stock may face selling pressure at this level.
Shares of GT Advanced Technologies Inc. (GTAT) fell by 8.83% or $-0.47/share to $4.85. In the past year, the shares have traded as low as $5.18 and as high as $17.50. On average, 2728610 shares of GTAT exchange hands on a given day and today's volume is recorded at 4448554. 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 $7.31 area but be careful because the stock may face selling pressure at this level.
Shares of Pandora Media, Inc. (P) fell by 9.23% or $-1.05/share to $10.32. In the past year, the shares have traded as low as $7.83 and as high as $26.00. On average, 3185950 shares of P exchange hands on a given day and today's volume is recorded at 1583015. The shares are currently trading below the 200-day moving average but above the 50-day moving average. The stock may be range bound between these two levels where the 200-day moving average of $11.80 represents resistance and the 50-day moving average of $9.63 would be an area of support.
Shares of E-Commerce China Dangdang Inc. (DANG) fell by 15.35% or $-1.15/share to $6.34. In the past year, the shares have traded as low as $4.11 and as high as $22.45. On average, 3287640 shares of DANG exchange hands on a given day and today's volume is recorded at 2537531. 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 $6.74 area where the stock may encounter resistance.
Shares of McEwen Mining Inc. (MUX) traded higher by 13.79% or $0.31/share to $2.55. In the past year, the shares have traded as low as $2.18 and as high as $7.35. On average, 2529590 shares of MUX exchange hands on a given day and today's volume is recorded at 1772360. 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 $3.81 area but be careful because the stock may face selling pressure at this level.
