The following stocks were detected to be trading among the most active on December 16: General Electric Company, iShares Russell 2000 Index, Research In Motion Limited, PowerShares QQQ, and Cisco Systems, 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 General Electric Company (GE) traded higher by 1.51% or $0.25/share to $17.04. In the past year, the shares have traded as low as $14.02 and as high as $21.12. On average, 69017910 shares of GE exchange hands on a given day and today's volume is recorded at 25329566. 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 $17.57 represents resistance and the 50-day moving average of $16.15 would be an area of support.
Shares of iShares Russell 2000 Index (IWM) traded higher by 2.06% or $1.48/share to $73.18. In the past year, the shares have traded as low as $60.09 and as high as $86.22. On average, 74969030 shares of IWM exchange hands on a given day and today's volume is recorded at 24003148. 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 $76.23 represents resistance and the 50-day moving average of $71.90 would be an area of support.
Shares of Research In Motion Limited (RIMM) fell by 11.0% or $-1.66/share to $13.47. In the past year, the shares have traded as low as $14.81 and as high as $70.56. On average, 22860710 shares of RIMM exchange hands on a given day and today's volume is recorded at 24142332. 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 $19.40 area but be careful because the stock may face selling pressure at this level.
Shares of PowerShares QQQ (QQQ) traded higher by 1.48% or $0.81/share to $55.55. In the past year, the shares have traded as low as $49.83 and as high as $59.72. On average, 70221020 shares of QQQ exchange hands on a given day and today's volume is recorded at 22995634. 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 $56.09 area where the stock may encounter resistance.
Shares of Cisco Systems, Inc. (CSCO) traded higher by 2.38% or $0.43/share to $18.47. In the past year, the shares have traded as low as $13.24 and as high as $22.09. On average, 55214930 shares of CSCO exchange hands on a given day and today's volume is recorded at 21723504. 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 $18.01 area where the stock will likely see buying pressure.
