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Monday, October 24, 2011

Highly Traded Stocks: (S), (C), (MSFT), (INTC), (JPM)

The following stocks were detected to be trading among the most active on October 24: Sprint Nextel Corp, Citigroup, Inc, Microsoft Corporation, Intel Corporation, and JPMorgan Chase & 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 Sprint Nextel Corp. (S) fell by 2.35% or $-0.06/share to $2.7. In the past year, the shares have traded as low as $2.10 and as high as $6.44. On average, 79164070 shares of S exchange hands on a given day and today's volume is recorded at 17389440. 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 $3.17 area but be careful because the stock may face selling pressure at this level.

Shares of Citigroup, Inc. (C) traded higher by 3.56% or $1.08/share to $31.38. In the past year, the shares have traded as low as $21.40 and as high as $51.47. On average, 55558880 shares of C exchange hands on a given day and today's volume is recorded at 16663051. 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 $39.35 represents resistance and the 50-day moving average of $27.81 would be an area of support.

Shares of Microsoft Corporation (MSFT) traded higher by 0.55% or $0.15/share to $27.31. In the past year, the shares have traded as low as $23.50 and as high as $28.91. On average, 67444310 shares of MSFT exchange hands on a given day and today's volume is recorded at 16753210. 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 $25.93 area where the stock will likely see buying pressure.

Shares of Intel Corporation (INTC) traded higher by 2.48% or $0.60/share to $24.63. In the past year, the shares have traded as low as $19.03 and as high as $24.51. On average, 65562310 shares of INTC exchange hands on a given day and today's volume is recorded at 17857818. 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 $21.37 area where the stock will likely see buying pressure.

Shares of JPMorgan Chase & Co. (JPM) traded higher by 2.93% or $0.98/share to $34.4. In the past year, the shares have traded as low as $27.85 and as high as $47.39. On average, 48680520 shares of JPM exchange hands on a given day and today's volume is recorded at 14941217. 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 $40.35 represents resistance and the 50-day moving average of $32.97 would be an area of support.