The following stocks were detected to be trading among the most active on April 27: PowerShares QQQ, Chesapeake Energy Corporation, Financial Select Sector SPDR, Zynga, Inc, and Sprint Nextel Corp. 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) traded higher by 0.28% or $0.19/share to $67.03. In the past year, the shares have traded as low as $49.56 and as high as $68.55. On average, 50805190 shares of QQQ exchange hands on a given day and today's volume is recorded at 19094580. 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 $65.81 area where the stock will likely see buying pressure.
Shares of Chesapeake Energy Corporation (CHK) fell by 1.7% or $-0.30/share to $17.26. In the past year, the shares have traded as low as $17.03 and as high as $35.34. On average, 18507320 shares of CHK exchange hands on a given day and today's volume is recorded at 18699816. 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 $22.69 area but be careful because the stock may face selling pressure at this level.
Shares of Financial Select Sector SPDR (XLF) fell by 0.42% or $-0.07/share to $15.44. In the past year, the shares have traded as low as $10.84 and as high as $16.17. On average, 77678570 shares of XLF exchange hands on a given day and today's volume is recorded at 16882348. 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 $15.22 area where the stock will likely see buying pressure.
Shares of Zynga, Inc. (ZNGA) fell by 4.67% or $-0.44/share to $8.98. In the past year, the shares have traded as low as $7.97 and as high as $15.91. On average, 14222400 shares of ZNGA exchange hands on a given day and today's volume is recorded at 14685884. 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 $11.41 area where the stock may encounter resistance.
Shares of Sprint Nextel Corp. (S) fell by 1.48% or $-0.04/share to $2.34. In the past year, the shares have traded as low as $2.10 and as high as $6.46. On average, 52119520 shares of S exchange hands on a given day and today's volume is recorded at 14768770. 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 $2.61 area but be careful because the stock may face selling pressure at this level.
