The following stocks were detected to be trading among the most active on May 16: Financial Select Sector SPDR, Chesapeake Energy Corporation, Arena Pharmaceuticals, Inc, Nokia Corporation, and Intel 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 Financial Select Sector SPDR (XLF) traded higher by 0.79% or $0.11/share to $14.54. In the past year, the shares have traded as low as $10.85 and as high as $16.01. On average, 80747020 shares of XLF exchange hands on a given day and today's volume is recorded at 9538200. The shares are currently trading below the 50-day moving average but above the 200-day moving average. The stock may be range bound between these two levels where the 50-day moving average of $15.33 represents resistance and the 200-day moving average of $13.64 would be an area of support.
Shares of Chesapeake Energy Corporation (CHK) traded higher by 1.09% or $0.16/share to $14.81. In the past year, the shares have traded as low as $14.31 and as high as $35.34. On average, 26853000 shares of CHK exchange hands on a given day and today's volume is recorded at 9485119. 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 $20.75 area but be careful because the stock may face selling pressure at this level.
Shares of Arena Pharmaceuticals, Inc. (ARNA) fell by 5.2% or $-0.31/share to $5.74. In the past year, the shares have traded as low as $1.23 and as high as $7.01. On average, 13770770 shares of ARNA exchange hands on a given day and today's volume is recorded at 9779522. 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 $2.73 area where the stock will likely see buying pressure.
Shares of Nokia Corporation (NOK) traded higher by 0.17% or $0.00/share to $2.89. In the past year, the shares have traded as low as $2.88 and as high as $8.07. On average, 39084240 shares of NOK exchange hands on a given day and today's volume is recorded at 9214671. 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 $4.12 area but be careful because the stock may face selling pressure at this level.
Shares of Intel Corporation (INTC) fell by 1.13% or $-0.30/share to $26.58. In the past year, the shares have traded as low as $18.70 and as high as $29.28. On average, 37237530 shares of INTC exchange hands on a given day and today's volume is recorded at 9154011. The shares are currently trading below the 50-day moving average but above the 200-day moving average. The stock may be range bound between these two levels where the 50-day moving average of $27.64 represents resistance and the 200-day moving average of $24.37 would be an area of support.
