The following stocks were detected to be trading among the most active on August 29: ProShares UltraShort S&P500, General Electric Co, Micron Technology Inc, SPDR Gold Shares, 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 ProShares UltraShort S&P500 (SDS) fell by 3.86% or $-0.94/share to $23.34. In the past year, the shares have traded as low as $19.48 and as high as $36.15. On average, 36907850 shares of SDS exchange hands on a given day and today's volume is recorded at 12137889. 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 $22.38 area where the stock will likely see buying pressure.
Shares of General Electric Co. (GE) traded higher by 2.15% or $0.33/share to $15.87. In the past year, the shares have traded as low as $13.88 and as high as $21.32. On average, 65912060 shares of GE exchange hands on a given day and today's volume is recorded at 12192142. 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 $17.57 area but be careful because the stock may face selling pressure at this level.
Shares of Micron Technology Inc. (MU) traded higher by 5.74% or $0.33/share to $5.99. In the past year, the shares have traded as low as $5.18 and as high as $11.96. On average, 39886340 shares of MU exchange hands on a given day and today's volume is recorded at 11153496. 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 $7.01 area but be careful because the stock may face selling pressure at this level.
Shares of SPDR Gold Shares (GLD) fell by 1.76% or $-3.12/share to $174.34. In the past year, the shares have traded as low as $120.42 and as high as $184.82. On average, 20992700 shares of GLD exchange hands on a given day and today's volume is recorded at 10433345. 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 $159.45 area where the stock will likely see buying pressure.
Shares of Sprint Nextel Corp. (S) traded higher by 5.23% or $0.17/share to $3.42. In the past year, the shares have traded as low as $2.98 and as high as $6.45. On average, 61109080 shares of S exchange hands on a given day and today's volume is recorded at 10124259. 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 $4.53 area but be careful because the stock may face selling pressure at this level.
