The following stocks were detected to be trading among the most active on October 26: MF Global Holdings Ltd, Direxion Daily Financial Bull 3X Shares, iShares Russell 2000 Index, PowerShares QQQ, and Corning 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 MF Global Holdings Ltd. (MF) fell by 31.72% or $-0.59/share to $1.27. In the past year, the shares have traded as low as $1.75 and as high as $9.28. On average, 4904420 shares of MF exchange hands on a given day and today's volume is recorded at 30673536. 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 $4.57 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 2.25% or $0.30/share to $13.66. In the past year, the shares have traded as low as $8.43 and as high as $34.29. On average, 65044310 shares of FAS exchange hands on a given day and today's volume is recorded at 21426300. 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 $23.78 represents resistance and the 50-day moving average of $12.59 would be an area of support.
Shares of iShares Russell 2000 Index (IWM) traded higher by 0.42% or $0.30/share to $71.66. In the past year, the shares have traded as low as $60.09 and as high as $86.22. On average, 90718180 shares of IWM exchange hands on a given day and today's volume is recorded at 18800368. 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 $77.46 represents resistance and the 50-day moving average of $68.42 would be an area of support.
Shares of PowerShares QQQ (QQQ) fell by 0.42% or $-0.24/share to $57.1. In the past year, the shares have traded as low as $49.83 and as high as $59.72. On average, 88763430 shares of QQQ exchange hands on a given day and today's volume is recorded at 18038448. 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 $56.17 area.
Shares of Corning Inc. (GLW) traded higher by 2.77% or $0.38/share to $14.1. In the past year, the shares have traded as low as $11.51 and as high as $23.24. On average, 21701420 shares of GLW exchange hands on a given day and today's volume is recorded at 16693886. 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 $18.04 represents resistance and the 50-day moving average of $13.65 would be an area of support.
