The following stocks were detected to be trading among the most active on May 9: iShares Russell 2000 Index, PowerShares QQQ, Arena Pharmaceuticals, Inc, General Electric Company, and Cisco Systems, 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 iShares Russell 2000 Index (IWM) fell by 1.36% or $-1.08/share to $78.17. In the past year, the shares have traded as low as $59.62 and as high as $84.97. On average, 52684070 shares of IWM exchange hands on a given day and today's volume is recorded at 17633192. 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 $81.25 represents resistance and the 200-day moving average of $74.91 would be an area of support.
Shares of PowerShares QQQ (QQQ) fell by 1.26% or $-0.81/share to $63.71. In the past year, the shares have traded as low as $49.56 and as high as $68.55. On average, 52675000 shares of QQQ exchange hands on a given day and today's volume is recorded at 17233120. 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 $66.22 represents resistance and the 200-day moving average of $58.96 would be an area of support.
Shares of Arena Pharmaceuticals, Inc. (ARNA) traded higher by 4.68% or $0.16/share to $3.58. In the past year, the shares have traded as low as $1.23 and as high as $3.49. On average, 11294150 shares of ARNA exchange hands on a given day and today's volume is recorded at 14242786. 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 $2.39 area where the stock will likely see buying pressure.
Shares of General Electric Company (GE) fell by 2.35% or $-0.45/share to $18.8. In the past year, the shares have traded as low as $13.77 and as high as $21.00. On average, 45438980 shares of GE exchange hands on a given day and today's volume is recorded at 14018983. 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 $19.48 represents resistance and the 200-day moving average of $17.34 would be an area of support.
Shares of Cisco Systems, Inc. (CSCO) fell by 0.75% or $-0.14/share to $18.57. In the past year, the shares have traded as low as $13.16 and as high as $21.22. On average, 40160470 shares of CSCO exchange hands on a given day and today's volume is recorded at 12795444. 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 $19.99 represents resistance and the 200-day moving average of $18.13 would be an area of support.
