Stocks falling to new 52 week lows on May 29 are Zynga, Inc, Facebook, Inc, Portugal Telecom SGPS SA, Etablissements Delhaize Freres et Cie Le Lion S.A, and Telecom Italia SpA. 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 Zynga, Inc. (ZNGA) fell by 7.79% or $-0.51/share to $6.09. In the past year, the shares have traded as low as $6.36 and as high as $15.90. On average, 15814680 shares of ZNGA exchange hands on a given day and today's volume is recorded at 29528382. 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 $10.09 area but be careful because the stock may face selling pressure at this level.
Shares of Facebook, Inc. (FB) fell by 8.01% or $-2.56/share to $29.35. In the past year, the shares have traded as low as $30.93 and as high as $44.99. On average, 167423780 shares of FB exchange hands on a given day and today's volume is recorded at 41352268. 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 $33.36 area but be careful because the stock may face selling pressure at this level.
Shares of Portugal Telecom SGPS SA (PT) fell by 6.53% or $-0.28/share to $4.01. In the past year, the shares have traded as low as $4.20 and as high as $9.47. On average, 332050 shares of PT exchange hands on a given day and today's volume is recorded at 655506. 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 Etablissements Delhaize Freres et Cie Le Lion S.A. (DEG) fell by 6.69% or $-2.63/share to $36.74. In the past year, the shares have traded as low as $38.48 and as high as $81.09. On average, 47680 shares of DEG exchange hands on a given day and today's volume is recorded at 25313. 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 $46.85 area but be careful because the stock may face selling pressure at this level.
Shares of Telecom Italia SpA (TI) fell by 4.83% or $-0.42/share to $8.27. In the past year, the shares have traded as low as $8.60 and as high as $13.39. On average, 367690 shares of TI exchange hands on a given day and today's volume is recorded at 408612. 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 $10.34 area but be careful because the stock may face selling pressure at this level.
