The following stocks were detected to be trading among the most active on May 23: General Electric Company, PowerShares QQQ, Alcatel-Lucent, S.A, Citigroup, Inc, and JPMorgan Chase & 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 General Electric Company (GE) fell by 1.04% or $-0.20/share to $18.98. In the past year, the shares have traded as low as $13.77 and as high as $21.00. On average, 44432240 shares of GE exchange hands on a given day and today's volume is recorded at 18988688. 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 $19.47 represents resistance and the 200-day moving average of $17.43 would be an area of support.
Shares of PowerShares QQQ (QQQ) fell by 1.22% or $-0.76/share to $61.68. In the past year, the shares have traded as low as $49.56 and as high as $68.55. On average, 53019020 shares of QQQ exchange hands on a given day and today's volume is recorded at 17983924. 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 $65.93 represents resistance and the 200-day moving average of $59.27 would be an area of support.
Shares of Alcatel-Lucent, S.A. (ALU) traded higher by 2.7% or $0.04/share to $1.52. In the past year, the shares have traded as low as $1.39 and as high as $6.05. On average, 23100020 shares of ALU exchange hands on a given day and today's volume is recorded at 17027044. 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 $1.92 area but be careful because the stock may face selling pressure at this level.
Shares of Citigroup, Inc. (C) fell by 2.71% or $-0.73/share to $26.19. In the past year, the shares have traded as low as $21.38 and as high as $43.01. On average, 42995210 shares of C exchange hands on a given day and today's volume is recorded at 16620680. 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 $30.22 area where the stock may encounter resistance.
Shares of JPMorgan Chase & Co. (JPM) fell by 2.03% or $-0.69/share to $33.32. In the past year, the shares have traded as low as $27.47 and as high as $46.19. On average, 42268220 shares of JPM exchange hands on a given day and today's volume is recorded at 16409477. 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 $36.11 area where the stock may encounter resistance.
