The following stocks were detected to be trading among the most active on August 31: iShares Russell 2000 Index, ProShares UltraShort S&P500, General Electric Co, Industrial Select Sector SPDR, and Microsoft Corporation. These stocks are highly traded usually because new relevant information on the company has become available. Being on the highly active list isn't always positive as high activity may be a result of negative news. Regardless, high activity means high liquidity. High volume, combined with price movement is what traders require to make profits.
Shares of iShares Russell 2000 Index (IWM) traded higher by 1.22% or $0.89/share to $73.69. In the past year, the shares have traded as low as $58.97 and as high as $86.54. On average, 79828080 shares of IWM exchange hands on a given day and today's volume is recorded at 19510574. The shares are currently trading below the 50-day and 200-day moving averages which indicates that the shares have been experiencing downward momentum. The stock may bounce back to test the 200-day moving average. Thus, you may want to pay close attention for a move up to the $77.02 area but be careful because the stock may face selling pressure at this level.
Shares of ProShares UltraShort S&P500 (SDS) fell by 2.59% or $-0.59/share to $22.21. In the past year, the shares have traded as low as $19.48 and as high as $35.97. On average, 37295210 shares of SDS exchange hands on a given day and today's volume is recorded at 16510223. The shares are currently trading below the 200-day moving average which indicates that the shares have been suffering from downward momentum lately. The stock may bounce higher to test the 200-day moving average, so look for a move up to the $22.34 area where the stock may encounter resistance.
Shares of General Electric Co. (GE) traded higher by 1.74% or $0.28/share to $16.4. In the past year, the shares have traded as low as $13.88 and as high as $21.33. On average, 65914860 shares of GE exchange hands on a given day and today's volume is recorded at 13517979. The shares are currently trading below the 50-day and 200-day moving averages which indicates that the shares have been experiencing downward momentum. The stock may bounce back to test the 200-day moving average. Thus, you may want to pay close attention for a move up to the $17.47 area but be careful because the stock may face selling pressure at this level.
Shares of Industrial Select Sector SPDR (XLI) traded higher by 1.9% or $0.61/share to $32.79. In the past year, the shares have traded as low as $27.45 and as high as $38.79. On average, 27085080 shares of XLI exchange hands on a given day and today's volume is recorded at 13109808. The shares are currently trading below the 50-day and 200-day moving averages which indicates that the shares have been experiencing downward momentum. The stock may bounce back to test the 200-day moving average. Thus, you may want to pay close attention for a move up to the $34.22 area but be careful because the stock may face selling pressure at this level.
Shares of Microsoft Corporation (MSFT) traded higher by 1.6% or $0.42/share to $26.65. In the past year, the shares have traded as low as $22.74 and as high as $28.91. On average, 65804920 shares of MSFT exchange hands on a given day and today's volume is recorded at 12708305. The shares are currently trading above the 200-day moving average which indicates that the shares have been subject to upward momentum. The 200 DMA is above the 50 DMA which indicates that the stock has likely taken a dip in the shorter term. The stock may eventually drop to test the 200-day moving average where buyers may be lurking near the $25.87 area.
