The following stocks were detected to be trading among the most active on August 22: ProShares UltraShort S&P500, Financial Select Sector SPDR, iShares Silver Trust, PowerShares QQQ, and Citigroup, Inc. 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 ProShares UltraShort S&P500 (SDS) fell by 2.62% or $-0.70/share to $26.04. In the past year, the shares have traded as low as $19.48 and as high as $36.17. On average, 34178030 shares of SDS exchange hands on a given day and today's volume is recorded at 14274667. 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 $22.38 area.
Shares of Financial Select Sector SPDR (XLF) traded higher by 1.15% or $0.14/share to $12.27. In the past year, the shares have traded as low as $12.04 and as high as $17.09. On average, 103626400 shares of XLF exchange hands on a given day and today's volume is recorded at 14331081. 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 $14.48 area but be careful because the stock may face selling pressure at this level.
Shares of iShares Silver Trust (SLV) traded higher by 1.57% or $0.65/share to $42.33. In the past year, the shares have traded as low as $17.48 and as high as $48.34. On average, 37993850 shares of SLV exchange hands on a given day and today's volume is recorded at 13435734. 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 $36.86 area where the stock will likely see buying pressure.
Shares of PowerShares QQQ (QQQ) traded higher by 1.75% or $0.88/share to $50.91. In the past year, the shares have traded as low as $42.63 and as high as $59.84. On average, 72810140 shares of QQQ exchange hands on a given day and today's volume is recorded at 13482370. 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 $55.91 area but be careful because the stock may face selling pressure at this level.
Shares of Citigroup, Inc. (C) traded higher by 1.12% or $0.30/share to $27.07. In the past year, the shares have traded as low as $26.25 and as high as $51.47. On average, 46426770 shares of C exchange hands on a given day and today's volume is recorded at 12875459. 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 $37.22 area but be careful because the stock may face selling pressure at this level.
