Among the most volatile stocks traded on August 6 were: eLong Inc, AVEO Pharmaceuticals, Inc, Ubiquiti Networks, Inc, Best Buy Co. Inc, and Qihoo 360 Technology Co. Ltd. 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 eLong Inc. (LONG) traded higher by 5.02% or $0.62/share to $12.97. In the past year, the shares have traded as low as $10.51 and as high as $22.53. On average, 26030 shares of LONG exchange hands on a given day and today's volume is recorded at 60875. 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 $14.22 represents resistance and the 50-day moving average of $12.23 would be an area of support.
Shares of AVEO Pharmaceuticals, Inc. (AVEO) fell by 10.41% or $-1.02/share to $8.82. In the past year, the shares have traded as low as $9.26 and as high as $17.69. On average, 443800 shares of AVEO exchange hands on a given day and today's volume is recorded at 317386. 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 $12.44 area but be careful because the stock may face selling pressure at this level.
Shares of Ubiquiti Networks, Inc. (UBNT) traded higher by 4.43% or $0.55/share to $12.96. In the past year, the shares have traded as low as $9.37 and as high as $35.99. On average, 777110 shares of UBNT exchange hands on a given day and today's volume is recorded at 112971. 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 $14.10 area but be careful because the stock may face selling pressure at this level.
Shares of Best Buy Co. Inc. (BBY) traded higher by 10.6% or $1.87/share to $19.51. In the past year, the shares have traded as low as $16.97 and as high as $27.90. On average, 9189510 shares of BBY exchange hands on a given day and today's volume is recorded at 36223056. 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 $22.83 represents resistance and the 50-day moving average of $19.30 would be an area of support.
Shares of Qihoo 360 Technology Co. Ltd (QIHU) traded higher by 5.14% or $0.76/share to $15.56. In the past year, the shares have traded as low as $13.71 and as high as $26.35. On average, 1325040 shares of QIHU exchange hands on a given day and today's volume is recorded at 962571. 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 $17.28 area but be careful because the stock may face selling pressure at this level.
