Stocks On The Move - August 24

Stocks Rise on Heavy Volumn:

• Scottish Re Group Ltd. (SCT): the Bermuda based life insurance company was again on the hot list as it surged 6.57% to $8.11 per share as the company declared dividend on perpetual preferred shares. The stock is now up more than 100% since it was hammered to new low of $3.99 on July 31 due to resignation of the company's president and chief executive. The stock is now on rally with K line on top over D line. The stock could continue to go higher as it is still on up trend. The stock was the fifth leading gainer on NYSE with 4.38 million shares traded.
• Lipid Sciences Inc.(LIPD): shares of Pleasanton, CA based biotechnology company soared 28.87% to $1.92 per share. Since reaching 52 weeks low of 87 cents in July the stock has been on the rise and the value has since doubled. The stock is now back to bull market as MACD is back above 0. Stock is now back to a critical point as it is now near 200 day moving average. The stock is the second leading gainer on Nasdaq today with 3.1 million shares traded.

Stock Drop on Heavy Volumn:

• Chico's FAS Inc. (CHS): shares of Fort Myers, Florida based casual clothing company plunged 25.46% to $17.95 after the company lowered the guidance for the third and fourth quarters. The chart shows really bad sign as the stock failed to break the downtrend and went south again after it touched 50 day moving average. With K line just dropping below D line we probably will see more slide coming. The stock was the biggest loser and the fourth heaviest traded on NYSE today with 26.5 million shares traded.
• Williams-Sonoma Inc. (WSM): shares of San Francisco, CA based cookware retailer tumbled 8.31% to 52 weeks low of $29.89 per share on analyst downgrade after the company cut its guidance. The stock is in a very weak market with KD falling and the price dropping below 50 day moving average. The stock was the fifth leading decliner on NYSE today with 5.97 million shares traded.