The following stocks were detected to be trading among the most active on August 24: iShares Gold Trust, iShares Silver Trust, Direxion Daily Financial Bull 3X Shares, SIRIUS XM Radio Inc, and PowerShares QQQ. 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 Gold Trust (IAU) fell by 2.51% or $-0.45/share to $17.36. In the past year, the shares have traded as low as $11.88 and as high as $18.53. On average, 8756570 shares of IAU exchange hands on a given day and today's volume is recorded at 22721192. 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 $15.83 area where the stock will likely see buying pressure.
Shares of iShares Silver Trust (SLV) fell by 3.16% or $-1.28/share to $39.35. In the past year, the shares have traded as low as $17.48 and as high as $48.35. On average, 38192790 shares of SLV exchange hands on a given day and today's volume is recorded at 21949000. 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 $37.15 area where the stock will likely see buying pressure.
Shares of Direxion Daily Financial Bull 3X Shares (FAS) traded higher by 3.47% or $0.44/share to $13.12. In the past year, the shares have traded as low as $8.72 and as high as $34.29. On average, 33236320 shares of FAS exchange hands on a given day and today's volume is recorded at 22034978. 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 $21.32 area but be careful because the stock may face selling pressure at this level.
Shares of SIRIUS XM Radio Inc. (SIRI) fell by 0.3% or $-0.01/share to $1.68. In the past year, the shares have traded as low as $0.95 and as high as $2.43. On average, 94852640 shares of SIRI exchange hands on a given day and today's volume is recorded at 20927972. 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 $1.82 area where the stock may encounter resistance.
Shares of PowerShares QQQ (QQQ) traded higher by 0.04% or $0.02/share to $52.3. In the past year, the shares have traded as low as $42.63 and as high as $59.83. On average, 73809250 shares of QQQ exchange hands on a given day and today's volume is recorded at 20845300. 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 $55.77 area but be careful because the stock may face selling pressure at this level.
