The following stocks were detected to be trading among the most active on May 8: iShares Russell 2000 Index, Micron Technology Inc, Ford Motor Co, Dendreon Corp, 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 iShares Russell 2000 Index (IWM) fell by 1.06% or $-0.84/share to $78.46. In the past year, the shares have traded as low as $59.62 and as high as $84.97. On average, 52422100 shares of IWM exchange hands on a given day and today's volume is recorded at 10590902. 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 $81.31 represents resistance and the 200-day moving average of $74.93 would be an area of support.
Shares of Micron Technology Inc. (MU) fell by 4.92% or $-0.32/share to $6.18. In the past year, the shares have traded as low as $3.97 and as high as $10.93. On average, 33777080 shares of MU exchange hands on a given day and today's volume is recorded at 10294199. 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 Ford Motor Co. (F) fell by 2.16% or $-0.23/share to $10.43. In the past year, the shares have traded as low as $8.98 and as high as $15.23. On average, 44099490 shares of F exchange hands on a given day and today's volume is recorded at 10299312. 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 $11.37 area where the stock may encounter resistance.
Shares of Dendreon Corp. (DNDN) fell by 20.49% or $-2.40/share to $9.3. In the past year, the shares have traded as low as $6.46 and as high as $42.90. On average, 7783280 shares of DNDN exchange hands on a given day and today's volume is recorded at 9671935. 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 $10.48 area but be careful because the stock may face selling pressure at this level.
Shares of Intel Corporation (INTC) fell by 1.77% or $-0.49/share to $27.27. In the past year, the shares have traded as low as $18.70 and as high as $29.27. On average, 36469670 shares of INTC exchange hands on a given day and today's volume is recorded at 9718113. 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 $27.57 represents resistance and the 200-day moving average of $24.21 would be an area of support.
