Among the most volatile stocks traded on August 6 were: MakeMyTrip Limited, Mattress Firm Holding Corp, Isis Pharmaceuticals, Inc, Rambus Inc, and United Fire & Casualty Company. 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 MakeMyTrip Limited (MMYT) traded higher by 8.57% or $1.39/share to $17.56. In the past year, the shares have traded as low as $12.26 and as high as $33.91. On average, 108650 shares of MMYT exchange hands on a given day and today's volume is recorded at 20060. 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 $21.22 represents resistance and the 50-day moving average of $14.95 would be an area of support.
Shares of Mattress Firm Holding Corp. (MFRM) traded higher by 2.24% or $0.65/share to $29.71. In the past year, the shares have traded as low as $21.03 and as high as $48.18. On average, 430220 shares of MFRM exchange hands on a given day and today's volume is recorded at 46532. 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 $29.78 area but be careful because the stock may face selling pressure at this level.
Shares of Isis Pharmaceuticals, Inc. (ISIS) traded higher by 9.35% or $1.13/share to $13.21. In the past year, the shares have traded as low as $6.25 and as high as $14.05. On average, 828610 shares of ISIS exchange hands on a given day and today's volume is recorded at 827691. The shares are currently trading above the 50-day moving average which indicates that the shares have been experiencing strong upward momentum as the 50 DMA is above the 200 DMA. The stock may come back down to test the 50-day moving average, so look for a move back to the $11.73 area where the stock will likely see buying pressure.
Shares of Rambus Inc. (RMBS) traded higher by 8.31% or $0.35/share to $4.56. In the past year, the shares have traded as low as $3.78 and as high as $18.55. On average, 1131630 shares of RMBS exchange hands on a given day and today's volume is recorded at 1270021. 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 $4.98 area but be careful because the stock may face selling pressure at this level.
Shares of United Fire & Casualty Company (UFCS) traded higher by 14.49% or $2.72/share to $21.49. In the past year, the shares have traded as low as $14.35 and as high as $22.87. On average, 57830 shares of UFCS exchange hands on a given day and today's volume is recorded at 67905. The shares are currently trading above the 50-day moving average which indicates that the shares have been experiencing strong upward momentum as the 50 DMA is above the 200 DMA. The stock may come back down to test the 50-day moving average, so look for a move back to the $21.10 area where the stock will likely see buying pressure.
