Stocks falling to new 52 week lows on May 2 are Banco Santander, S.A, Brightpoint Inc, Leap Wireless International Inc, Merge Healthcare Incorporated, and ConocoPhillips. 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 Banco Santander, S.A. (STD) fell by 5.71% or $-0.37/share to $6.03. In the past year, the shares have traded as low as $6.08 and as high as $11.28. On average, 8071750 shares of STD exchange hands on a given day and today's volume is recorded at 13759913. 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 $7.29 area but be careful because the stock may face selling pressure at this level.
Shares of Brightpoint Inc. (CELL) fell by 0.85% or $-0.05/share to $5.83. In the past year, the shares have traded as low as $5.88 and as high as $12.05. On average, 701860 shares of CELL exchange hands on a given day and today's volume is recorded at 260253. 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 $7.99 area but be careful because the stock may face selling pressure at this level.
Shares of Leap Wireless International Inc. (LEAP) traded higher by 0.18% or $0.01/share to $5.42. In the past year, the shares have traded as low as $5.39 and as high as $17.66. On average, 1670700 shares of LEAP exchange hands on a given day and today's volume is recorded at 555862. 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 $8.72 area where the stock may encounter resistance.
Shares of Merge Healthcare Incorporated (MRGE) fell by 0.98% or $-0.04/share to $4.06. In the past year, the shares have traded as low as $4.08 and as high as $7.23. On average, 797900 shares of MRGE exchange hands on a given day and today's volume is recorded at 353713. 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 $5.64 area but be careful because the stock may face selling pressure at this level.
Shares of ConocoPhillips (COP) fell by 2.43% or $-1.37/share to $55.13. In the past year, the shares have traded as low as $55.46 and as high as $78.29. On average, 9305070 shares of COP exchange hands on a given day and today's volume is recorded at 4931712. 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 $70.04 area where the stock may encounter resistance.
