The following stocks were detected to be trading among the most active on May 16: SIRIUS XM Radio Inc, Micron Technology Inc, Newcastle Investment Corp, JPMorgan Chase & Co, and Microsoft 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 SIRIUS XM Radio Inc. (SIRI) traded higher by 1.77% or $0.04/share to $2.02. In the past year, the shares have traded as low as $1.27 and as high as $2.45. On average, 56652950 shares of SIRI exchange hands on a given day and today's volume is recorded at 13613194. 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 $2.24 represents resistance and the 200-day moving average of $1.96 would be an area of support.
Shares of Micron Technology Inc. (MU) traded higher by 4.07% or $0.24/share to $6.26. In the past year, the shares have traded as low as $3.97 and as high as $10.86. On average, 33710390 shares of MU exchange hands on a given day and today's volume is recorded at 11012950. 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 $6.69 area where the stock may encounter resistance.
Shares of Newcastle Investment Corp. (NCT) fell by 4.84% or $-0.34/share to $6.68. In the past year, the shares have traded as low as $3.35 and as high as $7.31. On average, 1787390 shares of NCT exchange hands on a given day and today's volume is recorded at 10299212. 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 $6.51 area where the stock will likely see buying pressure.
Shares of JPMorgan Chase & Co. (JPM) traded higher by 1.48% or $0.54/share to $36.78. In the past year, the shares have traded as low as $27.48 and as high as $46.19. On average, 37550990 shares of JPM exchange hands on a given day and today's volume is recorded at 10217350. 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 $42.96 represents resistance and the 200-day moving average of $36.23 would be an area of support.
Shares of Microsoft Corporation (MSFT) fell by 0.7% or $-0.21/share to $30.0. In the past year, the shares have traded as low as $23.18 and as high as $32.95. On average, 46181020 shares of MSFT exchange hands on a given day and today's volume is recorded at 10126000. 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 $31.67 represents resistance and the 200-day moving average of $28.00 would be an area of support.
