The following stocks were detected to be trading among the most active on September 6: ProShares UltraShort S&P500, Direxion Daily Financial Bull 3X Shares, Citigroup, Inc, Cisco Systems, Inc, 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 ProShares UltraShort S&P500 (SDS) traded higher by 4.29% or $1.04/share to $25.26. In the past year, the shares have traded as low as $19.48 and as high as $32.58. On average, 38277750 shares of SDS exchange hands on a given day and today's volume is recorded at 21736800. 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 $22.50 area where the stock will likely see buying pressure.
Shares of Direxion Daily Financial Bull 3X Shares (FAS) fell by 7.87% or $-1.03/share to $12.06. In the past year, the shares have traded as low as $8.72 and as high as $34.29. On average, 38786410 shares of FAS exchange hands on a given day and today's volume is recorded at 21227318. 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 $19.84 area but be careful because the stock may face selling pressure at this level.
Shares of Citigroup, Inc. (C) fell by 3.38% or $-0.96/share to $27.44. In the past year, the shares have traded as low as $25.40 and as high as $51.47. On average, 48081620 shares of C exchange hands on a given day and today's volume is recorded at 19697580. 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 $35.37 area but be careful because the stock may face selling pressure at this level.
Shares of Cisco Systems, Inc. (CSCO) fell by 2.14% or $-0.33/share to $15.08. In the past year, the shares have traded as low as $13.30 and as high as $24.42. On average, 74573330 shares of CSCO exchange hands on a given day and today's volume is recorded at 19161452. 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 $15.50 area but be careful because the stock may face selling pressure at this level.
Shares of Microsoft Corporation (MSFT) fell by 2.03% or $-0.52/share to $25.28. In the past year, the shares have traded as low as $23.16 and as high as $28.91. On average, 65466500 shares of MSFT exchange hands on a given day and today's volume is recorded at 18727588. 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 $25.89 area where the stock may encounter resistance.
