Among the most volatile stocks traded on July 3 were: Newpark Resources Inc, Suntech Power Holdings Co. Ltd, McEwen Mining Inc, Ubiquiti Networks, Inc, and Arch Coal 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 Newpark Resources Inc. (NR) fell by 0.63% or $-0.04/share to $6.26. In the past year, the shares have traded as low as $5.19 and as high as $10.62. On average, 1124630 shares of NR exchange hands on a given day and today's volume is recorded at 225515. The shares are currently trading below the 200-day moving average but above the 50-day moving average. The stock may be range bound between these two levels where the 200-day moving average of $7.69 represents resistance and the 50-day moving average of $5.94 would be an area of support.
Shares of Suntech Power Holdings Co. Ltd. (STP) traded higher by 5.76% or $0.11/share to $2.02. In the past year, the shares have traded as low as $1.50 and as high as $8.04. On average, 1563490 shares of STP exchange hands on a given day and today's volume is recorded at 649585. 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 $2.08 area but be careful because the stock may face selling pressure at this level.
Shares of McEwen Mining Inc. (MUX) traded higher by 7.68% or $0.22/share to $3.15. In the past year, the shares have traded as low as $1.96 and as high as $7.17. On average, 2819570 shares of MUX exchange hands on a given day and today's volume is recorded at 573915. The shares are currently trading below the 200-day moving average but above the 50-day moving average. The stock may be range bound between these two levels where the 200-day moving average of $3.99 represents resistance and the 50-day moving average of $2.87 would be an area of support.
Shares of Ubiquiti Networks, Inc. (UBNT) traded higher by 4.63% or $0.63/share to $14.23. In the past year, the shares have traded as low as $11.19 and as high as $35.99. On average, 828030 shares of UBNT exchange hands on a given day and today's volume is recorded at 107750. 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 $19.78 area but be careful because the stock may face selling pressure at this level.
Shares of Arch Coal Inc. (ACI) traded higher by 5.5% or $0.39/share to $7.48. In the past year, the shares have traded as low as $5.41 and as high as $28.04. On average, 14061000 shares of ACI exchange hands on a given day and today's volume is recorded at 3359404. The shares are currently trading below the 200-day moving average but above the 50-day moving average. The stock may be range bound between these two levels where the 200-day moving average of $12.44 represents resistance and the 50-day moving average of $7.20 would be an area of support.
