Boston, MA 06\/17\/2014 (wallstreetpr) \u2013\u00a0Specialty chemical company China XD Plastics Co Ltd (NASDAQ:CXDC)<\/b> shares witnessed a highly volatile trading recently. Both the volume and the stock price recorded wide variation of late though there is no news to impact the stock either favorably or unfavorably.<\/p>\n
Stock Price<\/b><\/p>\n
The stock price plunged 10.27% to close at $8.74 on June 16. Though the volume recorded on Monday was sharply higher than the average three month volume, the preceding days trading indicated a high volatility in the volume.<\/p>\n
Shares of China XD Plastics Co Ltd (NASDAQ:CXDC)\u00a0dropped 20.1% in the current month alone based on the closing price of June 16. The yearly high of $13.24 was reached only on June 9, i.e. last Monday and within a week it plummeted 34%. This is in sharp contrast to the performance in the previous month, May. The stock surged 59.5% during the month of May. Similarly, in April too, shares of the company climbed 30.8%.<\/p>\n
Despite the weaknesses, the stock\u2019s closing price of June 16 indicated that it is still higher by 106% compared to the 52-week low price of $4.24. For the current year too, shares of China XD Plastics recorded a gain of 66.2%.<\/p>\n
The technical barometer of 50-day and 200 day moving average price of $9.31 and $6.22 respectively suggests that the closing price of Monday witnessed a 6.1% drop indicating a potential further downside. However, the stock closed 40.5% more than the 200-day moving average price suggesting that the stock could see a reversal of the trend in the medium term.<\/p>\n
Volume of Trade<\/b><\/p>\n
There is a wide variation of trading volume in the recent past. For instance on the day the stock hit a 52-week high, the volume was only 712.7K shares. However, within a couple of days, the volume reached 1.85 million shares on June 11 and 2.0 million shares on June 12. The next day saw a steep drop in volume to 497.3K shares and jumped again to 1.32 million shares on Monday.<\/p>\n
While the higher volume of trading could be attributed to either favorable or negative news, it is hard to find reason for such a volatile trading since there is no news from China XD Plastics Co Ltd (NASDAQ:CXDC)\u00a0or the brokerages except that the sentiments are weak.<\/p>\n","protected":false},"excerpt":{"rendered":"
Boston, MA 06\/17\/2014 (wallstreetpr) \u2013\u00a0Specialty chemical company China XD Plastics Co Ltd (NASDAQ:CXDC) shares witnessed a highly volatile trading recently. Both the volume and the […]<\/p>\n","protected":false},"author":9,"featured_media":26081,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[2236],"tags":[5572,5573],"stock_ticker":[],"class_list":["post-26075","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-china-xd-plastics-co-ltd-nasdaqcxdc","tag-nasdaqcxdc","entry"],"acf":[],"yoast_head":"\n