The following stocks were detected to be trading among the most active on May 2: Nokia Corporation, Research In Motion Limited, PowerShares QQQ, iShares Russell 2000 Index, and Ford Motor Co. 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 Nokia Corporation (NOK) fell by 2.17% or $-0.08/share to $3.6. In the past year, the shares have traded as low as $3.54 and as high as $8.87. On average, 36397380 shares of NOK exchange hands on a given day and today's volume is recorded at 20276136. 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 $4.86 area but be careful because the stock may face selling pressure at this level.
Shares of Research In Motion Limited (RIMM) fell by 3.71% or $-0.50/share to $12.98. In the past year, the shares have traded as low as $12.45 and as high as $48.94. On average, 19417020 shares of RIMM exchange hands on a given day and today's volume is recorded at 17713522. 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 $13.68 area but be careful because the stock may face selling pressure at this level.
Shares of PowerShares QQQ (QQQ) fell by 0.28% or $-0.19/share to $66.68. In the past year, the shares have traded as low as $49.56 and as high as $68.55. On average, 50584620 shares of QQQ exchange hands on a given day and today's volume is recorded at 17561580. 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 $66.03 area where the stock will likely see buying pressure.
Shares of iShares Russell 2000 Index (IWM) fell by 0.63% or $-0.51/share to $81.04. In the past year, the shares have traded as low as $59.62 and as high as $85.54. On average, 51764440 shares of IWM exchange hands on a given day and today's volume is recorded at 15427863. 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 $81.46 represents resistance and the 200-day moving average of $74.97 would be an area of support.
Shares of Ford Motor Co. (F) fell by 1.2% or $-0.13/share to $11.1. In the past year, the shares have traded as low as $8.98 and as high as $15.57. On average, 44706660 shares of F exchange hands on a given day and today's volume is recorded at 15225983. 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 $11.42 area where the stock may encounter resistance.
