The following stocks were detected to be trading among the most active on September 29: PowerShares QQQ, Direxion Daily Financial Bull 3X Shares, iShares Russell 2000 Index, ProShares UltraShort S&P500, and iShares MSCI Emerging Markets Index. 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 PowerShares QQQ (QQQ) fell by 0.5% or $-0.27/share to $54.26. In the past year, the shares have traded as low as $47.84 and as high as $59.72. On average, 83816690 shares of QQQ exchange hands on a given day and today's volume is recorded at 29946288. 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 $54.69 area but be careful because the stock may face selling pressure at this level.
Shares of Direxion Daily Financial Bull 3X Shares (FAS) traded higher by 5.21% or $0.57/share to $11.51. In the past year, the shares have traded as low as $8.72 and as high as $34.29. On average, 48847340 shares of FAS exchange hands on a given day and today's volume is recorded at 25726596. 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 $15.64 area but be careful because the stock may face selling pressure at this level.
Shares of iShares Russell 2000 Index (IWM) traded higher by 0.91% or $0.59/share to $65.79. In the past year, the shares have traded as low as $63.24 and as high as $86.21. On average, 84496190 shares of IWM exchange hands on a given day and today's volume is recorded at 25583780. 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 $71.26 area but be careful because the stock may face selling pressure at this level.
Shares of ProShares UltraShort S&P500 (SDS) fell by 1.54% or $-0.38/share to $24.3. In the past year, the shares have traded as low as $19.48 and as high as $30.07. On average, 45373330 shares of SDS exchange hands on a given day and today's volume is recorded at 21606212. 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 $23.61 area where the stock will likely see buying pressure.
Shares of iShares MSCI Emerging Markets Index (EEM) traded higher by 1.78% or $0.65/share to $37.1. In the past year, the shares have traded as low as $34.71 and as high as $49.93. On average, 70387510 shares of EEM exchange hands on a given day and today's volume is recorded at 21006852. 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 $41.70 area but be careful because the stock may face selling pressure at this level.
