Stocks falling to new 52 week lows on June 4 are Midstates Petroleum Company, Inc, San Juan Basin Royalty Trust, U.S. Silica Holdings, Inc, Forest Oil Corp, and Federal-Mogul Corp. 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 Midstates Petroleum Company, Inc. (MPO) fell by 3.88% or $-0.51/share to $12.53. In the past year, the shares have traded as low as $13.04 and as high as $16.94. On average, 549280 shares of MPO exchange hands on a given day and today's volume is recorded at 79999. 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 $14.93 area but be careful because the stock may face selling pressure at this level.
Shares of San Juan Basin Royalty Trust (SJT) fell by 3.77% or $-0.50/share to $12.75. In the past year, the shares have traded as low as $12.95 and as high as $24.27. On average, 333360 shares of SJT exchange hands on a given day and today's volume is recorded at 272858. 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 $17.38 area but be careful because the stock may face selling pressure at this level.
Shares of U.S. Silica Holdings, Inc. (SLCA) fell by 5.37% or $-0.59/share to $10.36. In the past year, the shares have traded as low as $10.80 and as high as $22.14. On average, 411670 shares of SLCA exchange hands on a given day and today's volume is recorded at 70067. 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 $16.63 area but be careful because the stock may face selling pressure at this level.
Shares of Forest Oil Corp. (FST) fell by 3.72% or $-0.29/share to $7.51. In the past year, the shares have traded as low as $7.78 and as high as $30.52. On average, 3455060 shares of FST exchange hands on a given day and today's volume is recorded at 2097695. 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 $10.94 area but be careful because the stock may face selling pressure at this level.
Shares of Federal-Mogul Corp. (FDML) fell by 4.32% or $-0.45/share to $9.96. In the past year, the shares have traded as low as $10.37 and as high as $23.99. On average, 163860 shares of FDML exchange hands on a given day and today's volume is recorded at 54571. 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 $13.75 area but be careful because the stock may face selling pressure at this level.
