Stocks falling to new 52 week lows on June 8 are Arch Coal Inc, Cimarex Energy Co, Basic Energy Services, Inc, Banco Macro S.A, and Magellan Health Services Inc. 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 Arch Coal Inc. (ACI) fell by 1.31% or $-0.08/share to $6.04. In the past year, the shares have traded as low as $6.02 and as high as $28.04. On average, 12920890 shares of ACI exchange hands on a given day and today's volume is recorded at 5242694. 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 $8.61 area but be careful because the stock may face selling pressure at this level.
Shares of Cimarex Energy Co. (XEC) fell by 2.25% or $-1.13/share to $48.99. In the past year, the shares have traded as low as $49.22 and as high as $92.64. On average, 924860 shares of XEC exchange hands on a given day and today's volume is recorded at 233758. 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 $63.42 area but be careful because the stock may face selling pressure at this level.
Shares of Basic Energy Services, Inc. (BAS) fell by 3.71% or $-0.39/share to $10.11. In the past year, the shares have traded as low as $10.23 and as high as $37.79. On average, 1525320 shares of BAS exchange hands on a given day and today's volume is recorded at 407128. 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 $13.76 area but be careful because the stock may face selling pressure at this level.
Shares of Banco Macro S.A. (BMA) fell by 2.2% or $-0.28/share to $12.42. In the past year, the shares have traded as low as $12.31 and as high as $40.34. On average, 187190 shares of BMA exchange hands on a given day and today's volume is recorded at 97483. 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 $15.49 area but be careful because the stock may face selling pressure at this level.
Shares of Magellan Health Services Inc. (MGLN) traded higher by 0.76% or $0.31/share to $41.12. In the past year, the shares have traded as low as $40.60 and as high as $56.76. On average, 177920 shares of MGLN exchange hands on a given day and today's volume is recorded at 133656. 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 $44.85 area but be careful because the stock may face selling pressure at this level.
