The following stocks were detected to be trading among the most active on October 19: Citigroup, Inc, Morgan Stanley, PowerShares QQQ, Alcatel-Lucent, and Abbott Laboratories. 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 Citigroup, Inc. (C) traded higher by 3.21% or $0.96/share to $30.84. In the past year, the shares have traded as low as $21.40 and as high as $51.47. On average, 54335180 shares of C exchange hands on a given day and today's volume is recorded at 30203988. 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 $39.65 represents resistance and the 50-day moving average of $27.83 would be an area of support.
Shares of Morgan Stanley (MS) traded higher by 2.82% or $0.47/share to $17.1. In the past year, the shares have traded as low as $11.58 and as high as $30.91. On average, 32335810 shares of MS exchange hands on a given day and today's volume is recorded at 28969044. 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 $23.23 represents resistance and the 50-day moving average of $15.68 would be an area of support.
Shares of PowerShares QQQ (QQQ) fell by 0.5% or $-0.29/share to $57.7. In the past year, the shares have traded as low as $49.84 and as high as $59.72. On average, 88147410 shares of QQQ exchange hands on a given day and today's volume is recorded at 23203452. 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 $56.12 area.
Shares of Alcatel-Lucent (ALU) fell by 8.84% or $-0.26/share to $2.68. In the past year, the shares have traded as low as $2.25 and as high as $6.63. On average, 29848430 shares of ALU exchange hands on a given day and today's volume is recorded at 22829092. 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 $3.18 area but be careful because the stock may face selling pressure at this level.
Shares of Abbott Laboratories (ABT) traded higher by 3.2% or $1.68/share to $54.12. In the past year, the shares have traded as low as $43.84 and as high as $53.27. On average, 9348230 shares of ABT exchange hands on a given day and today's volume is recorded at 22516840. 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 $50.55 area where the stock will likely see buying pressure.
