Stocks falling to new 52 week lows on May 7 are MetroPCS Communications, Inc, Kinross Gold Corporation, Patriot Coal Corporation, Petrobras Argentina SA, and QuinStreet, 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 MetroPCS Communications, Inc. (PCS) fell by 1.05% or $-0.07/share to $6.58. In the past year, the shares have traded as low as $6.63 and as high as $18.79. On average, 5980280 shares of PCS exchange hands on a given day and today's volume is recorded at 2715046. 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 $9.08 area but be careful because the stock may face selling pressure at this level.
Shares of Kinross Gold Corporation (KGC) fell by 0.77% or $-0.06/share to $8.32. In the past year, the shares have traded as low as $8.36 and as high as $18.04. On average, 8951210 shares of KGC exchange hands on a given day and today's volume is recorded at 5361439. 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 $9.79 area but be careful because the stock may face selling pressure at this level.
Shares of Patriot Coal Corporation (PCX) fell by 0.56% or $-0.03/share to $5.3. In the past year, the shares have traded as low as $5.21 and as high as $25.27. On average, 7022190 shares of PCX exchange hands on a given day and today's volume is recorded at 2739772. 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 $6.41 area but be careful because the stock may face selling pressure at this level.
Shares of Petrobras Argentina SA (PZE) fell by 3.71% or $-0.41/share to $10.63. In the past year, the shares have traded as low as $10.78 and as high as $21.72. On average, 108460 shares of PZE exchange hands on a given day and today's volume is recorded at 18290. 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 $12.63 area but be careful because the stock may face selling pressure at this level.
Shares of QuinStreet, Inc. (QNST) fell by 1.89% or $-0.16/share to $8.05. In the past year, the shares have traded as low as $8.14 and as high as $20.41. On average, 364600 shares of QNST exchange hands on a given day and today's volume is recorded at 62950. 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.
