The following stocks were detected to be trading among the most active on August 30: iShares Russell 2000 Index, PowerShares QQQ, Direxion Daily Financial Bull 3X Shares, Nokia Corporation, 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) fell by 0.59% or $-0.43/share to $71.95. In the past year, the shares have traded as low as $58.97 and as high as $86.54. On average, 80016400 shares of IWM exchange hands on a given day and today's volume is recorded at 23330720. 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 $77.13 area but be careful because the stock may face selling pressure at this level.
Shares of PowerShares QQQ (QQQ) fell by 0.18% or $-0.10/share to $54.51. In the past year, the shares have traded as low as $42.84 and as high as $59.83. On average, 76316220 shares of QQQ exchange hands on a given day and today's volume is recorded at 22192376. 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 $55.68 area but be careful because the stock may face selling pressure at this level.
Shares of Direxion Daily Financial Bull 3X Shares (FAS) fell by 3.71% or $-0.57/share to $14.79. In the past year, the shares have traded as low as $8.72 and as high as $34.29. On average, 37054630 shares of FAS exchange hands on a given day and today's volume is recorded at 21016020. 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 $20.58 area but be careful because the stock may face selling pressure at this level.
Shares of Nokia Corporation (NOK) traded higher by 0.73% or $0.05/share to $6.22. In the past year, the shares have traded as low as $4.82 and as high as $11.05. On average, 42708060 shares of NOK exchange hands on a given day and today's volume is recorded at 19911650. The shares are currently trading below the 200-day moving average but above the 50-day moving average. The stock may be range bound between these two levels where the 200-day moving average of $7.96 represents resistance and the 50-day moving average of $5.80 would be an area of support.
Shares of Microsoft Corporation (MSFT) traded higher by 1.15% or $0.30/share to $26.14. In the past year, the shares have traded as low as $22.75 and as high as $28.91. On average, 65936850 shares of MSFT exchange hands on a given day and today's volume is recorded at 19639792. 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.
