The following stocks were detected to be trading among the most active on November 21: Gilead Sciences Inc, Microsoft Corporation, Micron Technology Inc, PowerShares QQQ, and Pharmasset, Inc. 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 Gilead Sciences Inc. (GILD) fell by 11.56% or $-4.61/share to $35.27. In the past year, the shares have traded as low as $35.28 and as high as $43.49. On average, 6820060 shares of GILD exchange hands on a given day and today's volume is recorded at 20198204. 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 $40.17 area but be careful because the stock may face selling pressure at this level.
Shares of Microsoft Corporation (MSFT) fell by 1.13% or $-0.29/share to $25.01. In the past year, the shares have traded as low as $23.32 and as high as $28.69. On average, 56948580 shares of MSFT exchange hands on a given day and today's volume is recorded at 20182316. The shares are currently trading below the 200-day moving average which indicates that the shares have been suffering from downward momentum lately. The stock may bounce higher to test the 200-day moving average, so look for a move up to the $25.50 area where the stock may encounter resistance.
Shares of Micron Technology Inc. (MU) fell by 4.77% or $-0.30/share to $5.99. In the past year, the shares have traded as low as $3.97 and as high as $11.95. On average, 39876130 shares of MU exchange hands on a given day and today's volume is recorded at 18719588. 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 $8.28 represents resistance and the 50-day moving average of $5.81 would be an area of support.
Shares of PowerShares QQQ (QQQ) fell by 2.47% or $-1.37/share to $54.03. In the past year, the shares have traded as low as $49.83 and as high as $59.72. On average, 75629410 shares of QQQ exchange hands on a given day and today's volume is recorded at 18646468. 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 $56.19 area but be careful because the stock may face selling pressure at this level.
Shares of Pharmasset, Inc. (VRUS) traded higher by 84.88% or $61.68/share to $134.35. In the past year, the shares have traded as low as $20.49 and as high as $88.52. On average, 1244130 shares of VRUS exchange hands on a given day and today's volume is recorded at 15937458. 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 $75.31 area where the stock will likely see buying pressure.
