The following stocks were detected to be trading among the most active on June 5: Nokia Corporation, iShares Russell 2000 Index, Chesapeake Energy Corporation, General Electric Company, and PowerShares QQQ. 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 Nokia Corporation (NOK) traded higher by 3.26% or $0.08/share to $2.69. In the past year, the shares have traded as low as $2.61 and as high as $6.82. On average, 38458980 shares of NOK exchange hands on a given day and today's volume is recorded at 18402640. 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 $3.60 area but be careful because the stock may face selling pressure at this level.
Shares of iShares Russell 2000 Index (IWM) traded higher by 0.37% or $0.27/share to $73.92. In the past year, the shares have traded as low as $59.62 and as high as $84.97. On average, 54362000 shares of IWM exchange hands on a given day and today's volume is recorded at 18316878. 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 $75.21 area where the stock may encounter resistance.
Shares of Chesapeake Energy Corporation (CHK) traded higher by 3.2% or $0.53/share to $17.05. In the past year, the shares have traded as low as $13.32 and as high as $35.34. On average, 30571280 shares of CHK exchange hands on a given day and today's volume is recorded at 17674330. 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 $18.38 area but be careful because the stock may face selling pressure at this level.
Shares of General Electric Company (GE) traded higher by 0.11% or $0.02/share to $18.17. In the past year, the shares have traded as low as $13.77 and as high as $21.00. On average, 45705830 shares of GE exchange hands on a given day and today's volume is recorded at 15934447. 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 $19.30 represents resistance and the 200-day moving average of $17.57 would be an area of support.
Shares of PowerShares QQQ (QQQ) fell by 0.15% or $-0.09/share to $60.78. In the past year, the shares have traded as low as $49.56 and as high as $68.55. On average, 54234090 shares of QQQ exchange hands on a given day and today's volume is recorded at 15569381. 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 $65.17 represents resistance and the 200-day moving average of $59.64 would be an area of support.
