Stocks falling to new 52 week lows on July 2 are Alexander & Baldwin, Inc, Toro Co, Research In Motion Limited, First Niagara Financial Group Inc, and Rovi Corporation. 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 Alexander & Baldwin, Inc. (ALEX) fell by 54.31% or $-28.92/share to $24.33. In the past year, the shares have traded as low as $32.48 and as high as $53.71. On average, 284420 shares of ALEX exchange hands on a given day and today's volume is recorded at 183009. 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 $44.32 area where the stock may encounter resistance.
Shares of Toro Co. (TTC) fell by 50.54% or $-37.04/share to $36.25. In the past year, the shares have traded as low as $44.62 and as high as $76.67. On average, 237650 shares of TTC exchange hands on a given day and today's volume is recorded at 143210. 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 $63.15 area where the stock may encounter resistance.
Shares of Research In Motion Limited (RIMM) fell by 1.76% or $-0.13/share to $7.26. In the past year, the shares have traded as low as $7.34 and as high as $33.53. On average, 20971900 shares of RIMM exchange hands on a given day and today's volume is recorded at 16553462. 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 $11.18 area but be careful because the stock may face selling pressure at this level.
Shares of First Niagara Financial Group Inc. (FNFG) fell by 2.22% or $-0.17/share to $7.48. In the past year, the shares have traded as low as $7.49 and as high as $12.94. On average, 4451990 shares of FNFG exchange hands on a given day and today's volume is recorded at 4255341. 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 $8.26 area but be careful because the stock may face selling pressure at this level.
Shares of Rovi Corporation (ROVI) fell by 2.75% or $-0.54/share to $19.08. In the past year, the shares have traded as low as $19.01 and as high as $59.31. On average, 1236540 shares of ROVI exchange hands on a given day and today's volume is recorded at 341265. 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 $24.54 area but be careful because the stock may face selling pressure at this level.
