Among the most volatile stocks traded on May 16 were: McEwen Mining Inc, Ivanhoe Mines Ltd, Leap Wireless International Inc, ATP Oil & Gas Corp, and Patriot Coal Corporation. These stocks are risky as they have high volatility. Since these stocks carry a lot of risk, they will usually provide large returns. This high volatility could be caused by their business strategy or the type of sector they are in.
Shares of McEwen Mining Inc. (MUX) fell by 0.44% or $-0.01/share to $2.28. In the past year, the shares have traded as low as $2.23 and as high as $7.35. On average, 2509660 shares of MUX exchange hands on a given day and today's volume is recorded at 1239879. 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 $3.85 area but be careful because the stock may face selling pressure at this level.
Shares of Ivanhoe Mines Ltd. (IVN) traded higher by 4.86% or $0.42/share to $9.07. In the past year, the shares have traded as low as $8.62 and as high as $27.50. On average, 3468110 shares of IVN exchange hands on a given day and today's volume is recorded at 2388921. 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 $13.95 area but be careful because the stock may face selling pressure at this level.
Shares of Leap Wireless International Inc. (LEAP) traded higher by 5.75% or $0.31/share to $5.7. In the past year, the shares have traded as low as $4.68 and as high as $17.66. On average, 2162130 shares of LEAP exchange hands on a given day and today's volume is recorded at 769504. 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 $7.95 area but be careful because the stock may face selling pressure at this level.
Shares of ATP Oil & Gas Corp. (ATPG) traded higher by 3.42% or $0.20/share to $6.05. In the past year, the shares have traded as low as $5.53 and as high as $19.13. On average, 1986880 shares of ATPG exchange hands on a given day and today's volume is recorded at 570612. 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 $7.36 area but be careful because the stock may face selling pressure at this level.
Shares of Patriot Coal Corporation (PCX) fell by 3.8% or $-0.15/share to $3.79. In the past year, the shares have traded as low as $3.88 and as high as $24.98. On average, 7291500 shares of PCX exchange hands on a given day and today's volume is recorded at 5353427. 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 $6.08 area but be careful because the stock may face selling pressure at this level.
