Among the most volatile stocks traded on May 23 were: Qihoo 360 Technology Co. Ltd, Velti Plc, Splunk, Inc, hhgregg, Inc, and SureWest Communications. 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 Qihoo 360 Technology Co. Ltd (QIHU) fell by 7.38% or $-1.58/share to $19.82. In the past year, the shares have traded as low as $13.71 and as high as $29.90. On average, 2091530 shares of QIHU exchange hands on a given day and today's volume is recorded at 2429892. The shares are currently trading below the 50-day moving average but above the 200-day moving average. The stock may be range bound between these two levels where the 50-day moving average of $22.90 represents resistance and the 200-day moving average of $19.72 would be an area of support.
Shares of Velti Plc (VELT) fell by 6.96% or $-0.51/share to $6.82. In the past year, the shares have traded as low as $5.61 and as high as $20.00. On average, 1431580 shares of VELT exchange hands on a given day and today's volume is recorded at 2268718. 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 $9.24 area where the stock may encounter resistance.
Shares of Splunk, Inc. (SPLK) traded higher by 3.64% or $1.15/share to $32.78. In the past year, the shares have traded as low as $28.49 and as high as $37.34. On average, 1133210 shares of SPLK exchange hands on a given day and today's volume is recorded at 134610. 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 $33.12 area but be careful because the stock may face selling pressure at this level.
Shares of hhgregg, Inc. (HGG) traded higher by 2.25% or $0.22/share to $9.99. In the past year, the shares have traded as low as $8.88 and as high as $16.65. On average, 259250 shares of HGG exchange hands on a given day and today's volume is recorded at 276647. 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 $10.81 area but be careful because the stock may face selling pressure at this level.
Shares of SureWest Communications (SURW) fell by 5.03% or $-1.11/share to $20.97. In the past year, the shares have traded as low as $8.99 and as high as $22.79. On average, 93920 shares of SURW exchange hands on a given day and today's volume is recorded at 197295. The shares are currently trading below the 50-day moving average but above the 200-day moving average. The stock may be range bound between these two levels where the 50-day moving average of $22.58 represents resistance and the 200-day moving average of $15.81 would be an area of support.
