The following stocks were detected to be trading among the most active on October 6: iShares MSCI Emerging Markets Index, Level 3 Communications Inc, Direxion Daily Financial Bull 3X Shares, Financial Select Sector SPDR, and Ford Motor Co. 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 MSCI Emerging Markets Index (EEM) traded higher by 0.64% or $0.23/share to $35.93. In the past year, the shares have traded as low as $33.42 and as high as $49.92. On average, 73604440 shares of EEM exchange hands on a given day and today's volume is recorded at 18198494. 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 $40.49 area but be careful because the stock may face selling pressure at this level.
Shares of Level 3 Communications Inc. (LVLT) traded higher by 17.11% or $0.26/share to $1.78. In the past year, the shares have traded as low as $0.83 and as high as $2.67. On average, 27834510 shares of LVLT exchange hands on a given day and today's volume is recorded at 16486906. 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 $1.74 area where the stock will likely see buying pressure.
Shares of Direxion Daily Financial Bull 3X Shares (FAS) fell by 1.33% or $-0.14/share to $10.42. In the past year, the shares have traded as low as $8.43 and as high as $34.29. On average, 53533940 shares of FAS exchange hands on a given day and today's volume is recorded at 16131708. 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 $14.19 area but be careful because the stock may face selling pressure at this level.
Shares of Financial Select Sector SPDR (XLF) fell by 0.59% or $-0.07/share to $11.83. In the past year, the shares have traded as low as $10.95 and as high as $17.03. On average, 118690060 shares of XLF exchange hands on a given day and today's volume is recorded at 15509340. 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 $12.74 area but be careful because the stock may face selling pressure at this level.
Shares of Ford Motor Co. (F) traded higher by 1.61% or $0.17/share to $10.73. In the past year, the shares have traded as low as $9.05 and as high as $18.97. On average, 71156210 shares of F exchange hands on a given day and today's volume is recorded at 13212168. 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 $14.01 represents resistance and the 50-day moving average of $10.61 would be an area of support.
