Stocks On The Move - September 7

Stocks Rise on Heavy Volumn:

• GigaMedia Ltd. (GIGM): shares of Taiwanese online game portal and broadband service provider soared 15.17% to new 52 weeks high of $11.16 per share. The stock is in a very strong bull market and may even hit $15 by the end of this year. The stock was the seventh leading gainer on Nasdaq today with 5.6 million shares traded.
• Hovnanian Enterprises Inc. (HOV): shares of Red Bank, New Jersey based residential home builder rose 6.36% to $27.09 despite continuing negative housing news. The stock is back to a critical point as 50 day moving average. If the stock can break above the moving average it could be back to new rally, otherwise the stock may fall back to $25 per share. The stock was the third leading gainer on NYSE today with 5.26 million shares exchanged hands.

Stocks Drop on Heavy Volumn:

• Matek Biosciences (MATK): maker of nutritional oils used in baby formula saw its stock price plunge 24.74% to $21.54 on weak outlook. With ROC now showing the stock is oversold, there's the chance of bounce back for a while. However the stock has turned from bull market to bear market so for the long term it is not a good idea to hold the stock. The stock was the biggest loser on Nasdaq today with 12.95 million shares traded.
• Peabody Energy Corp. (BTU): shares of St. Louis, Missouri based coal company lost 5.19% to $40.39 per share due to weak forecast of coal production. The stock may continue to fall as technical indicator such as KD, MACD and moving average all show bearish signal. The stock was the eighteenth heaviest traded on NYSE today with 14.37 million shares traded.