The following stocks were detected to be trading among the most active on May 29: PowerShares QQQ, Financial Select Sector SPDR, Chesapeake Energy Corporation, Ford Motor Co, and iShares Russell 2000 Index. 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 1.56% or $0.97/share to $63.04. In the past year, the shares have traded as low as $49.56 and as high as $68.55. On average, 53386930 shares of QQQ exchange hands on a given day and today's volume is recorded at 17694236. 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 $65.69 represents resistance and the 200-day moving average of $59.43 would be an area of support.
Shares of Financial Select Sector SPDR (XLF) traded higher by 1.25% or $0.18/share to $14.19. In the past year, the shares have traded as low as $10.84 and as high as $16.00. On average, 84972600 shares of XLF exchange hands on a given day and today's volume is recorded at 18192914. 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 $15.17 represents resistance and the 200-day moving average of $13.67 would be an area of support.
Shares of Chesapeake Energy Corporation (CHK) traded higher by 7.01% or $1.11/share to $16.92. In the past year, the shares have traded as low as $13.32 and as high as $35.35. On average, 28759870 shares of CHK exchange hands on a given day and today's volume is recorded at 16566312. 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 $19.24 area but be careful because the stock may face selling pressure at this level.
Shares of Ford Motor Co. (F) traded higher by 2.36% or $0.25/share to $10.85. In the past year, the shares have traded as low as $8.98 and as high as $14.80. On average, 45346730 shares of F exchange hands on a given day and today's volume is recorded at 14494953. 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 $11.28 area where the stock may encounter resistance.
Shares of iShares Russell 2000 Index (IWM) traded higher by 1.54% or $1.18/share to $77.77. In the past year, the shares have traded as low as $59.62 and as high as $84.97. On average, 54661250 shares of IWM exchange hands on a given day and today's volume is recorded at 14491293. 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 $80.23 represents resistance and the 200-day moving average of $75.06 would be an area of support.