The following stocks were detected to be trading among the most active on October 18: Direxion Daily Financial Bull 3X Shares, PowerShares QQQ, iShares MSCI Emerging Markets Index, Citigroup, Inc, and EMC Corporation. 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 5.12% or $0.58/share to $11.91. In the past year, the shares have traded as low as $8.43 and as high as $34.29. On average, 60009140 shares of FAS exchange hands on a given day and today's volume is recorded at 29905530. 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 $12.68 area but be careful because the stock may face selling pressure at this level.
Shares of PowerShares QQQ (QQQ) fell by 0.03% or $-0.02/share to $57.26. In the past year, the shares have traded as low as $49.83 and as high as $59.72. On average, 87657180 shares of QQQ exchange hands on a given day and today's volume is recorded at 28557848. 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 $56.10 area.
Shares of iShares MSCI Emerging Markets Index (EEM) traded higher by 0.08% or $0.03/share to $38.28. In the past year, the shares have traded as low as $33.42 and as high as $49.93. On average, 77379780 shares of EEM exchange hands on a given day and today's volume is recorded at 26803152. 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 $39.31 area but be careful because the stock may face selling pressure at this level.
Shares of Citigroup, Inc. (C) traded higher by 4.15% or $1.16/share to $29.09. In the past year, the shares have traded as low as $21.40 and as high as $51.47. On average, 53901850 shares of C exchange hands on a given day and today's volume is recorded at 26124508. 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 $39.74 represents resistance and the 50-day moving average of $27.79 would be an area of support.
Shares of EMC Corporation (EMC) traded higher by 5.03% or $1.14/share to $23.82. In the past year, the shares have traded as low as $19.84 and as high as $28.73. On average, 25710770 shares of EMC exchange hands on a given day and today's volume is recorded at 22429424. 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 $25.35 represents resistance and the 50-day moving average of $21.88 would be an area of support.
