The following stocks were detected to be trading among the most active on October 24: Direxion Daily Financial Bull 3X Shares, PowerShares QQQ, General Electric Co, HealthSpring Inc, and iShares Russell 2000 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 Direxion Daily Financial Bull 3X Shares (FAS) traded higher by 4.89% or $0.67/share to $14.34. In the past year, the shares have traded as low as $8.43 and as high as $34.29. On average, 63561770 shares of FAS exchange hands on a given day and today's volume is recorded at 23905808. 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 $23.93 represents resistance and the 50-day moving average of $12.62 would be an area of support.
Shares of PowerShares QQQ (QQQ) traded higher by 1.62% or $0.93/share to $58.23. In the past year, the shares have traded as low as $49.84 and as high as $59.72. On average, 88259090 shares of QQQ exchange hands on a given day and today's volume is recorded at 23086702. 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 $56.14 area.
Shares of General Electric Co. (GE) traded higher by 1.66% or $0.27/share to $16.58. In the past year, the shares have traded as low as $14.02 and as high as $21.13. On average, 80865000 shares of GE exchange hands on a given day and today's volume is recorded at 20201318. 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 $18.26 represents resistance and the 50-day moving average of $15.71 would be an area of support.
Shares of HealthSpring Inc. (HS) traded higher by 33.47% or $13.44/share to $53.6. In the past year, the shares have traded as low as $24.34 and as high as $48.95. On average, 1036520 shares of HS exchange hands on a given day and today's volume is recorded at 18166856. 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 $38.54 area.
Shares of iShares Russell 2000 Index (IWM) traded higher by 1.84% or $1.31/share to $72.44. In the past year, the shares have traded as low as $60.09 and as high as $86.22. On average, 89735680 shares of IWM exchange hands on a given day and today's volume is recorded at 17706548. 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 $77.52 represents resistance and the 50-day moving average of $68.35 would be an area of support.
