The following stocks were detected to be trading among the most active on June 12: PowerShares QQQ, Sprint Nextel Corp, iShares MSCI Emerging Markets Index, 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 PowerShares QQQ (QQQ) traded higher by 0.58% or $0.36/share to $62.17. In the past year, the shares have traded as low as $49.56 and as high as $68.55. On average, 54327210 shares of QQQ exchange hands on a given day and today's volume is recorded at 22598880. 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 $64.60 represents resistance and the 200-day moving average of $59.92 would be an area of support.
Shares of Sprint Nextel Corp. (S) traded higher by 0.71% or $0.02/share to $2.85. In the past year, the shares have traded as low as $2.10 and as high as $5.75. On average, 50467530 shares of S exchange hands on a given day and today's volume is recorded at 21141394. 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 $2.64 area.
Shares of iShares MSCI Emerging Markets Index (EEM) traded higher by 1.55% or $0.58/share to $37.96. In the past year, the shares have traded as low as $33.10 and as high as $48.17. On average, 54558120 shares of EEM exchange hands on a given day and today's volume is recorded at 18819284. 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 $40.25 area where the stock may encounter resistance.
Shares of Citigroup, Inc. (C) traded higher by 1.81% or $0.48/share to $26.96. In the past year, the shares have traded as low as $21.38 and as high as $43.01. On average, 43271930 shares of C exchange hands on a given day and today's volume is recorded at 15050883. 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 $30.06 area where the stock may encounter resistance.
Shares of JPMorgan Chase & Co. (JPM) traded higher by 1.2% or $0.39/share to $33.22. In the past year, the shares have traded as low as $27.48 and as high as $46.19. On average, 44526750 shares of JPM exchange hands on a given day and today's volume is recorded at 14837298. 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.
