Stocks falling to new 52 week lows on June 21 are China Unicom (Hong Kong) Limited, PetroLogistics LP, Precision Drilling Corporation, Teavana Holdings, Inc, and Partner Communications Company Ltd. 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 China Unicom (Hong Kong) Limited (CHU) fell by 5.32% or $-0.71/share to $12.64. In the past year, the shares have traded as low as $13.00 and as high as $22.25. On average, 1116530 shares of CHU exchange hands on a given day and today's volume is recorded at 1182370. 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 $15.42 area but be careful because the stock may face selling pressure at this level.
Shares of PetroLogistics LP (PDH) fell by 2.77% or $-0.36/share to $12.77. In the past year, the shares have traded as low as $13.06 and as high as $17.07. On average, 894760 shares of PDH exchange hands on a given day and today's volume is recorded at 168346. 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 $15.13 area but be careful because the stock may face selling pressure at this level.
Shares of Precision Drilling Corporation (PDS) fell by 4.28% or $-0.29/share to $6.59. In the past year, the shares have traded as low as $6.79 and as high as $18.16. On average, 1703500 shares of PDS exchange hands on a given day and today's volume is recorded at 1476342. 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 $8.18 area but be careful because the stock may face selling pressure at this level.
Shares of Teavana Holdings, Inc. (TEA) fell by 7.02% or $-0.91/share to $12.05. In the past year, the shares have traded as low as $12.30 and as high as $29.35. On average, 307200 shares of TEA exchange hands on a given day and today's volume is recorded at 110090. 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 $17.45 area but be careful because the stock may face selling pressure at this level.
Shares of Partner Communications Company Ltd. (PTNR) fell by 3.82% or $-0.17/share to $4.28. In the past year, the shares have traded as low as $4.34 and as high as $15.67. On average, 151550 shares of PTNR exchange hands on a given day and today's volume is recorded at 29454. 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 $5.93 area but be careful because the stock may face selling pressure at this level.
