Among the most volatile stocks traded on August 1 were: Cloud Peak Energy Inc, Molycorp, Inc, Boyd Gaming Corp, Resolute Forest Products Inc, and FARO Technologies 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 Cloud Peak Energy Inc. (CLD) traded higher by 5.08% or $0.84/share to $17.39. In the past year, the shares have traded as low as $13.65 and as high as $24.34. On average, 1282270 shares of CLD exchange hands on a given day and today's volume is recorded at 779960. 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 $17.82 represents resistance and the 50-day moving average of $15.96 would be an area of support.
Shares of Molycorp, Inc. (MCP) fell by 3.16% or $-0.55/share to $16.87. In the past year, the shares have traded as low as $16.35 and as high as $66.63. On average, 2657070 shares of MCP exchange hands on a given day and today's volume is recorded at 7438486. 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 $20.07 area but be careful because the stock may face selling pressure at this level.
Shares of Boyd Gaming Corp. (BYD) traded higher by 2.28% or $0.13/share to $5.83. In the past year, the shares have traded as low as $4.12 and as high as $9.75. On average, 1252990 shares of BYD exchange hands on a given day and today's volume is recorded at 4127992. 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 $6.98 area but be careful because the stock may face selling pressure at this level.
Shares of Resolute Forest Products Inc. (RFP) traded higher by 19.72% or $1.81/share to $10.99. In the past year, the shares have traded as low as $9.05 and as high as $18.59. On average, 604320 shares of RFP exchange hands on a given day and today's volume is recorded at 1379639. 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 $11.27 area but be careful because the stock may face selling pressure at this level.
Shares of FARO Technologies Inc. (FARO) fell by 23.73% or $-10.21/share to $32.82. In the past year, the shares have traded as low as $29.45 and as high as $59.66. On average, 114460 shares of FARO exchange hands on a given day and today's volume is recorded at 638639. 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 $43.18 area but be careful because the stock may face selling pressure at this level.
