Stocks On The Move - September 20

Stocks Rise on Heavy Volumn:

• CytRx Corp. (CYTR): shares of Los Angeles, CA based biopharmaceutical research company soared 29.41% to $1.76 per share after the company received $24.5 million on royalty agreement. The stock has been back to uptrend since August and with K line on top of D line again the stock should continue to go up to test the resistence around $2. The stock was the biggest winner on Nasdaq with 3.3 million shares exchanged hands.
• Eagle Materials Inc.(EXP): shares of Dallas, Texas based gypsum wallboard and cement maker surged 12.5% to $38.43 per share on huge insider buying. The stock is currently on a rally as K line is on top of D line. However the stock is overall a bit weak as MACD is below 0. The stock was the second biggest winner on NYSE today with 3.75 million shares traded.

Stock Drop on Heavy Volumn:

• Genta Inc. (GNTA): after three days of surge which brought shares the biopharmaceutical company from 53 cents per share to as high as $1.1 per share, a 100% increase in three days, shares plunged 31.82% to 75 cents per share after the company announced it will sell 20 million shares to institutional investors for $16 million. Although the stock is weak as 50 day moving average is below 200 day MA and MACD is below 0, with K line on top of D line now the stock may probably bounce back soon. The stock was the biggest loser and the sixth heaviest traded on Nasdaq today with 59 million shares traded.
• Diamond Offshore Drilling Inc. (DO): shares of Houston based oil and gas drilling company lost 6.5% to $67.46 per share. The stock is now in a weak market as 50 day MA has dropped below 200 day MA in early August and MACD is still below 0 showing negative signal. The stock was the fourth leading decliner on NYSE today with 6,3 million shares traded.