Stocks falling to new 52 week lows on May 1 are NII Holdings Inc, ConocoPhillips, Resolute Forest Products, Sony Corporation, and Leap Wireless International 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 NII Holdings Inc. (NIHD) fell by 4.64% or $-0.65/share to $13.35. In the past year, the shares have traded as low as $13.75 and as high as $44.21. On average, 3660010 shares of NIHD exchange hands on a given day and today's volume is recorded at 3317300. 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 $18.29 area but be careful because the stock may face selling pressure at this level.
Shares of ConocoPhillips (COP) fell by 21.4% or $-15.33/share to $56.3. In the past year, the shares have traded as low as $57.55 and as high as $78.29. On average, 9417770 shares of COP exchange hands on a given day and today's volume is recorded at 7649435. 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 $70.14 area where the stock may encounter resistance.
Shares of Resolute Forest Products (ABH) fell by 4.68% or $-0.62/share to $12.63. In the past year, the shares have traded as low as $12.79 and as high as $27.22. On average, 225570 shares of ABH exchange hands on a given day and today's volume is recorded at 243800. 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 $14.43 area but be careful because the stock may face selling pressure at this level.
Shares of Sony Corporation (SNE) fell by 1.17% or $-0.19/share to $16.02. In the past year, the shares have traded as low as $16.11 and as high as $29.10. On average, 1683870 shares of SNE exchange hands on a given day and today's volume is recorded at 1061524. 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 $19.74 area where the stock may encounter resistance.
Shares of Leap Wireless International Inc. (LEAP) fell by 1.6% or $-0.09/share to $5.52. In the past year, the shares have traded as low as $5.50 and as high as $17.66. On average, 1649190 shares of LEAP exchange hands on a given day and today's volume is recorded at 1691852. 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 $8.77 area where the stock may encounter resistance.
