Stocks falling to new 52 week lows on May 11 are MEMC Electronic Materials Inc, Resolute Energy Corporation, Groupon, Inc, Gafisa S.A, and First Solar, 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 MEMC Electronic Materials Inc. (WFR) fell by 1.22% or $-0.03/share to $2.42. In the past year, the shares have traded as low as $2.41 and as high as $11.36. On average, 6966520 shares of WFR exchange hands on a given day and today's volume is recorded at 4671833. 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 $3.63 area but be careful because the stock may face selling pressure at this level.
Shares of Resolute Energy Corporation (REN) fell by 0.94% or $-0.09/share to $9.48. In the past year, the shares have traded as low as $9.54 and as high as $17.55. On average, 690430 shares of REN exchange hands on a given day and today's volume is recorded at 152386. 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 $11.04 area but be careful because the stock may face selling pressure at this level.
Shares of Groupon, Inc. (GRPN) traded higher by 1.72% or $0.17/share to $10.04. In the past year, the shares have traded as low as $9.82 and as high as $31.14. On average, 2465400 shares of GRPN exchange hands on a given day and today's volume is recorded at 592420. 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 $14.58 area but be careful because the stock may face selling pressure at this level.
Shares of Gafisa S.A. (GFA) traded higher by 0.54% or $0.02/share to $3.73. In the past year, the shares have traded as low as $3.65 and as high as $11.26. On average, 2650510 shares of GFA exchange hands on a given day and today's volume is recorded at 536365. 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 $4.74 area but be careful because the stock may face selling pressure at this level.
Shares of First Solar, Inc. (FSLR) traded higher by 0.53% or $0.09/share to $16.17. In the past year, the shares have traded as low as $16.04 and as high as $142.22. On average, 6658130 shares of FSLR exchange hands on a given day and today's volume is recorded at 2309709. 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 $22.99 area but be careful because the stock may face selling pressure at this level.
