The following stocks were detected to be trading among the most active on November 4: PowerShares QQQ, iShares FTSE China 25 Index Fund, SIRIUS XM Radio Inc, Chesapeake Energy Corporation, and Direxion Daily Financial Bull 3X Shares. 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 PowerShares QQQ (QQQ) fell by 1.28% or $-0.74/share to $57.35. In the past year, the shares have traded as low as $49.83 and as high as $59.71. On average, 88803390 shares of QQQ exchange hands on a given day and today's volume is recorded at 17654622. 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 $56.21 area.
Shares of iShares FTSE China 25 Index Fund (FXI) fell by 2.78% or $-1.06/share to $37.01. In the past year, the shares have traded as low as $28.61 and as high as $47.02. On average, 26775600 shares of FXI exchange hands on a given day and today's volume is recorded at 16164620. 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 $40.28 represents resistance and the 50-day moving average of $34.82 would be an area of support.
Shares of SIRIUS XM Radio Inc. (SIRI) traded higher by 0.61% or $0.01/share to $1.66. In the past year, the shares have traded as low as $1.27 and as high as $2.44. On average, 82864310 shares of SIRI exchange hands on a given day and today's volume is recorded at 15977753. 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 $1.71 area but be careful because the stock may face selling pressure at this level.
Shares of Chesapeake Energy Corporation (CHK) fell by 5.24% or $-1.52/share to $27.51. In the past year, the shares have traded as low as $20.87 and as high as $35.65. On average, 12631530 shares of CHK exchange hands on a given day and today's volume is recorded at 15927270. 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 $28.65 area but be careful because the stock may face selling pressure at this level.
Shares of Direxion Daily Financial Bull 3X Shares (FAS) fell by 5.39% or $-0.78/share to $13.7. In the past year, the shares have traded as low as $8.43 and as high as $34.29. On average, 69615530 shares of FAS exchange hands on a given day and today's volume is recorded at 14358686. 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 $23.24 represents resistance and the 50-day moving average of $12.80 would be an area of support.
