Among the most volatile stocks traded on June 29 were: Arena Pharmaceuticals, Inc, Spectrum Pharmaceuticals, Inc, Proto Labs, Inc, Smith & Wesson Holding Corporation, and Harbinger Group 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 Arena Pharmaceuticals, Inc. (ARNA) fell by 0.29% or $-0.03/share to $10.2. In the past year, the shares have traded as low as $1.23 and as high as $13.50. On average, 22160160 shares of ARNA exchange hands on a given day and today's volume is recorded at 8548333. 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 $5.92 area where the stock will likely see buying pressure.
Shares of Spectrum Pharmaceuticals, Inc. (SPPI) fell by 0.52% or $-0.08/share to $15.23. In the past year, the shares have traded as low as $6.94 and as high as $16.00. On average, 2145900 shares of SPPI exchange hands on a given day and today's volume is recorded at 1124203. The shares are currently trading above the 200-day moving average which indicates that the shares have been subject to upward momentum. The 200 DMA is above the 50 DMA which indicates that the stock has likely taken a dip in the shorter term. The stock may eventually drop to test the 200-day moving average where buyers may be lurking near the $12.16 area.
Shares of Proto Labs, Inc. (PRLB) traded higher by 2.08% or $0.61/share to $30.0. In the past year, the shares have traded as low as $24.93 and as high as $39.08. On average, 127390 shares of PRLB exchange hands on a given day and today's volume is recorded at 48078. 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 $32.75 area where the stock may encounter resistance.
Shares of Smith & Wesson Holding Corporation (SWHC) traded higher by 17.56% or $1.21/share to $8.1. In the past year, the shares have traded as low as $2.29 and as high as $8.62. On average, 1359430 shares of SWHC exchange hands on a given day and today's volume is recorded at 2955905. 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 $7.13 area where the stock will likely see buying pressure.
Shares of Harbinger Group Inc. (HRG) traded higher by 7.64% or $0.55/share to $7.75. In the past year, the shares have traded as low as $2.75 and as high as $8.33. On average, 198890 shares of HRG exchange hands on a given day and today's volume is recorded at 67655. 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 $5.55 area where the stock will likely see buying pressure.
