The following stocks were detected to be trading among the most active on October 6: Yahoo! Inc, ProShares UltraShort S&P500, Alcoa, Inc, Cisco Systems, Inc, and General Electric 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 Yahoo! Inc. (YHOO) fell by 4.77% or $-0.76/share to $15.16. In the past year, the shares have traded as low as $11.09 and as high as $18.84. On average, 35109870 shares of YHOO exchange hands on a given day and today's volume is recorded at 12276351. 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 $15.60 represents resistance and the 50-day moving average of $13.54 would be an area of support.
Shares of ProShares UltraShort S&P500 (SDS) fell by 0.36% or $-0.09/share to $24.71. In the past year, the shares have traded as low as $19.48 and as high as $28.99. On average, 48736080 shares of SDS exchange hands on a given day and today's volume is recorded at 12084053. 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 $24.16 area where the stock will likely see buying pressure.
Shares of Alcoa, Inc. (AA) traded higher by 2.77% or $0.26/share to $9.63. In the past year, the shares have traded as low as $8.45 and as high as $18.40. On average, 28273960 shares of AA exchange hands on a given day and today's volume is recorded at 11808577. 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 $11.83 area but be careful because the stock may face selling pressure at this level.
Shares of Cisco Systems, Inc. (CSCO) traded higher by 1.98% or $0.32/share to $16.48. In the past year, the shares have traded as low as $13.24 and as high as $24.33. On average, 72244610 shares of CSCO exchange hands on a given day and today's volume is recorded at 11712147. 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 $17.13 represents resistance and the 50-day moving average of $15.58 would be an area of support.
Shares of General Electric Co. (GE) fell by 1.02% or $-0.16/share to $15.11. In the past year, the shares have traded as low as $14.02 and as high as $21.12. On average, 78689180 shares of GE exchange hands on a given day and today's volume is recorded at 11675976. 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 $15.80 area but be careful because the stock may face selling pressure at this level.
