Stocks falling to new 52 week lows on May 28 are Sinopec Shanghai Petrochemical Co. Ltd, Portugal Telecom SGPS SA, ExactTarget, Inc, Allison Transmission Holdings, Inc, and AAR 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 Sinopec Shanghai Petrochemical Co. Ltd. (SHI) fell by 1.96% or $-0.57/share to $28.48. In the past year, the shares have traded as low as $28.91 and as high as $45.85. On average, 17120 shares of SHI exchange hands on a given day and today's volume is recorded at 15231. 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 $34.51 area but be careful because the stock may face selling pressure at this level.
Shares of Portugal Telecom SGPS SA (PT) traded higher by 0.47% or $0.02/share to $4.29. In the past year, the shares have traded as low as $4.26 and as high as $9.47. On average, 331920 shares of PT exchange hands on a given day and today's volume is recorded at 340100. 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 $4.62 area but be careful because the stock may face selling pressure at this level.
Shares of ExactTarget, Inc. (ET) fell by 0.96% or $-0.20/share to $20.6. In the past year, the shares have traded as low as $20.61 and as high as $29.88. On average, 496640 shares of ET exchange hands on a given day and today's volume is recorded at 137015. 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 $24.94 area but be careful because the stock may face selling pressure at this level.
Shares of Allison Transmission Holdings, Inc. (ALSN) fell by 2.95% or $-0.54/share to $17.75. In the past year, the shares have traded as low as $17.86 and as high as $25.14. On average, 755820 shares of ALSN exchange hands on a given day and today's volume is recorded at 139708. 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 $21.64 area but be careful because the stock may face selling pressure at this level.
Shares of AAR Corp. (AIR) fell by 2.27% or $-0.29/share to $12.48. In the past year, the shares have traded as low as $12.54 and as high as $31.25. On average, 368090 shares of AIR exchange hands on a given day and today's volume is recorded at 594240. 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 $16.43 area but be careful because the stock may face selling pressure at this level.
