The following stocks were detected to be trading among the most active on May 7: PowerShares QQQ, iShares Russell 2000 Index, Cognizant Technology Solutions Corporation, iShares MSCI Emerging Markets Index, and SIRIUS XM Radio 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 PowerShares QQQ (QQQ) fell by 0.11% or $-0.07/share to $64.63. In the past year, the shares have traded as low as $49.56 and as high as $68.55. On average, 51596050 shares of QQQ exchange hands on a given day and today's volume is recorded at 17528752. 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 $66.19 represents resistance and the 200-day moving average of $58.90 would be an area of support.
Shares of iShares Russell 2000 Index (IWM) fell by 0.19% or $-0.15/share to $78.94. In the past year, the shares have traded as low as $59.62 and as high as $84.96. On average, 52046800 shares of IWM exchange hands on a given day and today's volume is recorded at 17438566. 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 $81.37 represents resistance and the 200-day moving average of $74.95 would be an area of support.
Shares of Cognizant Technology Solutions Corporation (CTSH) fell by 17.5% or $-12.19/share to $57.47. In the past year, the shares have traded as low as $53.54 and as high as $78.75. On average, 2152800 shares of CTSH exchange hands on a given day and today's volume is recorded at 16711486. 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 $68.91 area where the stock may encounter resistance.
Shares of iShares MSCI Emerging Markets Index (EEM) remained unchanged at $41.36. In the past year, the shares have traded as low as $33.10 and as high as $48.17. On average, 49188250 shares of EEM exchange hands on a given day and today's volume is recorded at 16636042. 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 $42.94 represents resistance and the 200-day moving average of $40.84 would be an area of support.
Shares of SIRIUS XM Radio Inc. (SIRI) fell by 2.08% or $-0.05/share to $2.12. In the past year, the shares have traded as low as $1.27 and as high as $2.45. On average, 51856990 shares of SIRI exchange hands on a given day and today's volume is recorded at 15608439. 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 $2.26 represents resistance and the 200-day moving average of $1.96 would be an area of support.
