The following stocks were detected to be trading among the most active on May 7: Frontier Communications Corporation, Citigroup, Inc, General Electric Company, Micron Technology Inc, and Pfizer 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 Frontier Communications Corporation (FTR) fell by 7.97% or $-0.31/share to $3.58. In the past year, the shares have traded as low as $3.72 and as high as $8.07. On average, 17227810 shares of FTR exchange hands on a given day and today's volume is recorded at 15512058. 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 $4.23 area but be careful because the stock may face selling pressure at this level.
Shares of Citigroup, Inc. (C) fell by 0.19% or $-0.06/share to $31.54. In the past year, the shares have traded as low as $21.38 and as high as $45.73. On average, 41908470 shares of C exchange hands on a given day and today's volume is recorded at 13264581. 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 $34.66 represents resistance and the 200-day moving average of $30.79 would be an area of support.
Shares of General Electric Company (GE) fell by 0.16% or $-0.03/share to $19.31. In the past year, the shares have traded as low as $13.77 and as high as $21.00. On average, 45295240 shares of GE exchange hands on a given day and today's volume is recorded at 12537298. 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 $19.47 represents resistance and the 200-day moving average of $17.33 would be an area of support.
Shares of Micron Technology Inc. (MU) fell by 0.46% or $-0.03/share to $6.52. In the past year, the shares have traded as low as $3.97 and as high as $11.13. On average, 33499550 shares of MU exchange hands on a given day and today's volume is recorded at 12493997. 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 $6.74 area where the stock may encounter resistance.
Shares of Pfizer Inc. (PFE) traded higher by 0.04% or $0.01/share to $22.39. In the past year, the shares have traded as low as $16.30 and as high as $23.30. On average, 36181040 shares of PFE exchange hands on a given day and today's volume is recorded at 11841767. 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 $22.08 area where the stock will likely see buying pressure.
