Stocks falling to new 52 week lows on May 21 are Edgen Group Inc, First Solar, Inc, NetApp, Inc, Wynn Resorts Ltd, and Orbital Sciences 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 Edgen Group Inc. (EDG) fell by 4.4% or $-0.35/share to $7.6. In the past year, the shares have traded as low as $7.75 and as high as $9.45. On average, 327790 shares of EDG exchange hands on a given day and today's volume is recorded at 55945. 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 $8.36 area but be careful because the stock may face selling pressure at this level.
Shares of First Solar, Inc. (FSLR) traded higher by 1.83% or $0.25/share to $13.91. In the past year, the shares have traded as low as $13.65 and as high as $142.23. On average, 6745640 shares of FSLR exchange hands on a given day and today's volume is recorded at 1373758. 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 $21.44 area but be careful because the stock may face selling pressure at this level.
Shares of NetApp, Inc. (NTAP) traded higher by 0.64% or $0.21/share to $33.27. In the past year, the shares have traded as low as $32.95 and as high as $56.49. On average, 6100080 shares of NTAP exchange hands on a given day and today's volume is recorded at 4039324. 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 $38.93 area where the stock may encounter resistance.
Shares of Wynn Resorts Ltd. (WYNN) traded higher by 0.22% or $0.22/share to $102.16. In the past year, the shares have traded as low as $100.08 and as high as $169.84. On average, 2523770 shares of WYNN exchange hands on a given day and today's volume is recorded at 1453090. 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 $123.43 area but be careful because the stock may face selling pressure at this level.
Shares of Orbital Sciences Corp. (ORB) traded higher by 1.94% or $0.21/share to $11.06. In the past year, the shares have traded as low as $10.83 and as high as $18.88. On average, 362240 shares of ORB exchange hands on a given day and today's volume is recorded at 52785. 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 $12.71 area but be careful because the stock may face selling pressure at this level.
