The following stocks were detected to be trading among the most active on August 3: Financial Select Sector SPDR, PowerShares QQQ, iShares Silver Trust, iShares MSCI Emerging Markets Index, and Sprint Nextel Corp. 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 0.76% or $-0.11/share to $14.24. In the past year, the shares have traded as low as $13.13 and as high as $17.09. On average, 82983920 shares of XLF exchange hands on a given day and today's volume is recorded at 22211244. 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 $15.08 area but be careful because the stock may face selling pressure at this level.
Shares of PowerShares QQQ (QQQ) fell by 0.6% or $-0.34/share to $55.93. In the past year, the shares have traded as low as $42.63 and as high as $59.83. On average, 56495430 shares of QQQ exchange hands on a given day and today's volume is recorded at 20852604. The shares are currently trading below the 50-day moving average but above the 200-day moving average. The stock may be range bound between these two levels where the 50-day moving average of $56.83 represents resistance and the 200-day moving average of $55.89 would be an area of support.
Shares of iShares Silver Trust (SLV) traded higher by 2.36% or $0.94/share to $40.76. In the past year, the shares have traded as low as $17.43 and as high as $48.35. On average, 57064360 shares of SLV exchange hands on a given day and today's volume is recorded at 20386092. The shares are currently trading above the 50-day moving average which indicates that the shares have been experiencing strong upward momentum as the 50 DMA is above the 200 DMA. The stock may come back down to test the 50-day moving average, so look for a move back to the $36.19 area where the stock will likely see buying pressure.
Shares of iShares MSCI Emerging Markets Index (EEM) fell by 1.42% or $-0.65/share to $44.97. In the past year, the shares have traded as low as $38.60 and as high as $49.93. On average, 53294460 shares of EEM exchange hands on a given day and today's volume is recorded at 20207058. 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 $46.55 area where the stock may encounter resistance.
Shares of Sprint Nextel Corp. (S) traded higher by 0.25% or $0.01/share to $4.01. In the past year, the shares have traded as low as $3.70 and as high as $6.45. On average, 54588550 shares of S exchange hands on a given day and today's volume is recorded at 19742394. 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 $4.69 area where the stock may encounter resistance.
