Among the most volatile stocks traded on May 8 were: Sykes Enterprises, Incorporated, Dun & Bradstreet Corp, OfficeMax Incorporated, Arena Pharmaceuticals, Inc, and Grand Canyon Education, Inc. 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 Sykes Enterprises, Incorporated (SYKE) fell by 0.03% or $-0.00/share to $15.69. In the past year, the shares have traded as low as $10.56 and as high as $22.70. On average, 241030 shares of SYKE exchange hands on a given day and today's volume is recorded at 77758. The shares are currently trading below the 200-day moving average but above the 50-day moving average. The stock may be range bound between these two levels where the 200-day moving average of $15.83 represents resistance and the 50-day moving average of $15.46 would be an area of support.
Shares of Dun & Bradstreet Corp. (DNB) fell by 13.58% or $-10.28/share to $65.42. In the past year, the shares have traded as low as $57.92 and as high as $86.52. On average, 395730 shares of DNB exchange hands on a given day and today's volume is recorded at 1043744. 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 $72.71 area where the stock may encounter resistance.
Shares of OfficeMax Incorporated (OMX) traded higher by 11.25% or $0.49/share to $4.89. In the past year, the shares have traded as low as $3.90 and as high as $9.64. On average, 1830480 shares of OMX exchange hands on a given day and today's volume is recorded at 2101401. 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 $5.22 area but be careful because the stock may face selling pressure at this level.
Shares of Arena Pharmaceuticals, Inc. (ARNA) traded higher by 19.12% or $0.52/share to $3.24. In the past year, the shares have traded as low as $1.23 and as high as $3.47. On average, 10531180 shares of ARNA exchange hands on a given day and today's volume is recorded at 22221784. The shares are currently trading above the 50-day moving average which indicates that the shares have been experiencing strong upward momentum as the 50 DMA is above the 200 DMA. The stock may come back down to test the 50-day moving average, so look for a move back to the $2.36 area where the stock will likely see buying pressure.
Shares of Grand Canyon Education, Inc. (LOPE) traded higher by 16.53% or $2.65/share to $18.68. In the past year, the shares have traded as low as $12.26 and as high as $18.60. On average, 290240 shares of LOPE exchange hands on a given day and today's volume is recorded at 1165905. The shares are currently trading above the 50-day moving average which indicates that the shares have been experiencing strong upward momentum as the 50 DMA is above the 200 DMA. The stock may come back down to test the 50-day moving average, so look for a move back to the $17.14 area where the stock will likely see buying pressure.
