The following stocks were detected to be trading among the most active on June 7: General Electric Company, iShares FTSE China 25 Index Fund, JPMorgan Chase & Co, Sprint Nextel Corp, and Activision Blizzard, 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 General Electric Company (GE) traded higher by 1.19% or $0.22/share to $19.1. In the past year, the shares have traded as low as $13.76 and as high as $21.00. On average, 45541610 shares of GE exchange hands on a given day and today's volume is recorded at 12660398. 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 $19.24 represents resistance and the 200-day moving average of $17.60 would be an area of support.
Shares of iShares FTSE China 25 Index Fund (FXI) traded higher by 2.63% or $0.88/share to $34.37. In the past year, the shares have traded as low as $28.54 and as high as $43.31. On average, 19052250 shares of FXI exchange hands on a given day and today's volume is recorded at 12890035. 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 $35.83 area but be careful because the stock may face selling pressure at this level.
Shares of JPMorgan Chase & Co. (JPM) traded higher by 0.64% or $0.21/share to $33.28. In the past year, the shares have traded as low as $27.47 and as high as $46.18. On average, 43649920 shares of JPM exchange hands on a given day and today's volume is recorded at 11746217. 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 $36.01 area where the stock may encounter resistance.
Shares of Sprint Nextel Corp. (S) traded higher by 1.47% or $0.04/share to $2.76. In the past year, the shares have traded as low as $2.10 and as high as $5.75. On average, 51302780 shares of S exchange hands on a given day and today's volume is recorded at 11679383. The shares are currently trading above the 200-day moving average which indicates that the shares have been subject to upward momentum. The 200 DMA is above the 50 DMA which indicates that the stock has likely taken a dip in the shorter term. The stock may eventually drop to test the 200-day moving average where buyers may be lurking near the $2.65 area.
Shares of Activision Blizzard, Inc. (ATVI) fell by 2.64% or $-0.32/share to $11.78. In the past year, the shares have traded as low as $10.25 and as high as $14.19. On average, 9762770 shares of ATVI exchange hands on a given day and today's volume is recorded at 10578528. 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 $12.18 area where the stock may encounter resistance.
