Price Down-Active Volume: Sunesis Pharma, Eastman Kodak and Fifth Third (NASDAQ: SNSS),(NYSE: EK),(NASDAQ: FITB)

Trading on Tuesday sent shares of Sunesis Pharmaceuticals, Inc. (NASDAQ:SNSS), Fifth Third Bancorp (NASDAQ:FITB) and Eastman Kodak Company (NYSE:EK) into a tailspin.  Read on to learn more.

Sunesis Pharmaceuticals, Inc. (NASDAQ:SNSS) has been on a run lately accompanied by heavy volume.  The heavy volume and price spike often imply some of the big players are buying, and the stock posted huge gains the previous trading days on very strong volume, until Tuesday struck.  Shares plummeted today –16% on trading the pierced the 16M level.  The after hours trading also took a little more out of the stock as it edged down another -1.1% to close after hours at $1.73 a share.  This could be due to some profit taking on the stock because it had such a strong run up in just a few trading days.

Eastman Kodak Company (NYSE:EK) took its fair share of lumps today as it shed –5.4% to close $4.17 per share on volume that was above average (7M versus 5.3M).  The after hours were kind to EK as it remained at the market close price of $4.17.  EK’s share price finally showed some life in August and September as the price reached above $6.50 a share, they quickly returned to below the $4 level by the end of October.  Will share price ever return to the glory days of $80 a share like in the late ‘90s?  I am afraid to answer that, but probably not.

Taking a shot on the jaw Tuesday was Fifth Third Bancorp (NASDAQ:FITB) as the stock closed down –5.1% on close to 20M shares trading hands.  After hours trading sent the stock a little lower as it shed another 6 pennies (-0.6%).  A negative technical indicator for the stock is the seemingly strong resistance to price advance established at the $11.00 level.  Reviewing the chart (below) indicates $11 was tested twice in late August, once in October and once in early December.  Given the number times the stock has tested that price, it does not seem likely it will break through the $11 resistance soon.

Disclosure: No positions.