The following stocks were detected to be trading among the most active on June 28: Tenet Healthcare Corp, Financial Select Sector SPDR, Cisco Systems, Inc, PowerShares QQQ, and Microsoft Corporation. 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 Tenet Healthcare Corp. (THC) traded higher by 6.83% or $0.34/share to $5.32. In the past year, the shares have traded as low as $3.46 and as high as $6.54. On average, 6306000 shares of THC exchange hands on a given day and today's volume is recorded at 21315410. 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 $4.97 area.
Shares of Financial Select Sector SPDR (XLF) fell by 1.54% or $-0.22/share to $14.06. In the past year, the shares have traded as low as $10.79 and as high as $15.93. On average, 82917230 shares of XLF exchange hands on a given day and today's volume is recorded at 20248578. 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 $14.44 represents resistance and the 200-day moving average of $13.78 would be an area of support.
Shares of Cisco Systems, Inc. (CSCO) fell by 1.82% or $-0.30/share to $16.42. In the past year, the shares have traded as low as $13.15 and as high as $21.21. On average, 43736160 shares of CSCO exchange hands on a given day and today's volume is recorded at 19006912. 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 $17.60 area but be careful because the stock may face selling pressure at this level.
Shares of PowerShares QQQ (QQQ) fell by 1.65% or $-1.04/share to $61.86. In the past year, the shares have traded as low as $49.45 and as high as $68.39. On average, 52712560 shares of QQQ exchange hands on a given day and today's volume is recorded at 17843586. 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 $63.50 represents resistance and the 200-day moving average of $60.36 would be an area of support.
Shares of Microsoft Corporation (MSFT) fell by 1.99% or $-0.60/share to $29.57. In the past year, the shares have traded as low as $23.30 and as high as $32.74. On average, 45903450 shares of MSFT exchange hands on a given day and today's volume is recorded at 15699729. 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 $30.22 represents resistance and the 200-day moving average of $28.51 would be an area of support.
