The following stocks were detected to be trading among the most active on August 8: Financial Select Sector SPDR, iShares Russell 2000 Index, General Electric Co, iShares MSCI Emerging Markets Index, and ProShares UltraShort S&P500. 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 Financial Select Sector SPDR (XLF) fell by 3.87% or $-0.52/share to $12.91. In the past year, the shares have traded as low as $13.13 and as high as $17.09. On average, 86788000 shares of XLF exchange hands on a given day and today's volume is recorded at 41560312. 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 $14.98 area but be careful because the stock may face selling pressure at this level.
Shares of iShares Russell 2000 Index (IWM) fell by 3.06% or $-2.18/share to $69.15. In the past year, the shares have traded as low as $58.09 and as high as $86.55. On average, 69809010 shares of IWM exchange hands on a given day and today's volume is recorded at 35009716. 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 $79.32 area where the stock may encounter resistance.
Shares of General Electric Co. (GE) fell by 4.72% or $-0.78/share to $15.73. In the past year, the shares have traded as low as $13.83 and as high as $21.33. On average, 53630370 shares of GE exchange hands on a given day and today's volume is recorded at 36992696. 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 $18.47 area but be careful because the stock may face selling pressure at this level.
Shares of iShares MSCI Emerging Markets Index (EEM) fell by 4.67% or $-1.99/share to $40.59. In the past year, the shares have traded as low as $38.60 and as high as $49.93. On average, 55189150 shares of EEM exchange hands on a given day and today's volume is recorded at 33904892. 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 $46.53 area where the stock may encounter resistance.
Shares of ProShares UltraShort S&P500 (SDS) traded higher by 6.75% or $1.66/share to $26.24. In the past year, the shares have traded as low as $19.48 and as high as $36.17. On average, 25895370 shares of SDS exchange hands on a given day and today's volume is recorded at 24487899. 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 $22.48 area.
