The following stocks were detected to be trading among the most active on July 31: Sprint Nextel Corp, SPDR S&P 500, Nokia Corporation, Facebook, Inc, and Micron Technology 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 Sprint Nextel Corp. (S) fell by 3.1% or $-0.14/share to $4.37. In the past year, the shares have traded as low as $2.10 and as high as $4.53. On average, 55228440 shares of S exchange hands on a given day and today's volume is recorded at 62873848. 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 $3.12 area where the stock will likely see buying pressure.
Shares of SPDR S&P 500 (SPY) fell by 0.33% or $-0.46/share to $138.22. In the past year, the shares have traded as low as $105.74 and as high as $141.47. On average, 164756490 shares of SPY exchange hands on a given day and today's volume is recorded at 58557224. 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 $133.55 area where the stock will likely see buying pressure.
Shares of Nokia Corporation (NOK) traded higher by 9.91% or $0.21/share to $2.38. In the past year, the shares have traded as low as $1.63 and as high as $6.82. On average, 39514100 shares of NOK exchange hands on a given day and today's volume is recorded at 57718724. The shares are currently trading below the 200-day moving average but above the 50-day moving average. The stock may be range bound between these two levels where the 200-day moving average of $4.18 represents resistance and the 50-day moving average of $2.32 would be an area of support.
Shares of Facebook, Inc. (FB) fell by 6.22% or $-1.44/share to $21.71. In the past year, the shares have traded as low as $22.28 and as high as $45.00. On average, 47659850 shares of FB exchange hands on a given day and today's volume is recorded at 34111848. 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 $29.84 area but be careful because the stock may face selling pressure at this level.
Shares of Micron Technology Inc. (MU) traded higher by 4.34% or $0.27/share to $6.38. In the past year, the shares have traded as low as $3.97 and as high as $9.17. On average, 29792780 shares of MU exchange hands on a given day and today's volume is recorded at 29360692. The shares are currently trading below the 200-day moving average but above the 50-day moving average. The stock may be range bound between these two levels where the 200-day moving average of $6.68 represents resistance and the 50-day moving average of $5.94 would be an area of support.
