The following stocks were detected to be trading among the most active on July 31: PowerShares QQQ, iShares Russell 2000 Index, Coach, Inc, Dendreon Corp, and iShares MSCI EAFE Index. 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) fell by 0.06% or $-0.04/share to $64.78. In the past year, the shares have traded as low as $49.45 and as high as $68.39. On average, 49166090 shares of QQQ exchange hands on a given day and today's volume is recorded at 19452246. 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 $62.96 area where the stock will likely see buying pressure.
Shares of iShares Russell 2000 Index (IWM) fell by 0.38% or $-0.30/share to $78.75. In the past year, the shares have traded as low as $59.32 and as high as $84.24. On average, 52232970 shares of IWM exchange hands on a given day and today's volume is recorded at 19442284. 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 $77.41 area where the stock will likely see buying pressure.
Shares of Coach, Inc. (COH) fell by 16.62% or $-10.07/share to $50.51. In the past year, the shares have traded as low as $45.01 and as high as $79.36. On average, 3730320 shares of COH exchange hands on a given day and today's volume is recorded at 18563544. 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 $61.05 area but be careful because the stock may face selling pressure at this level.
Shares of Dendreon Corp. (DNDN) fell by 20.63% or $-1.28/share to $4.91. In the past year, the shares have traded as low as $5.70 and as high as $37.77. On average, 6307500 shares of DNDN exchange hands on a given day and today's volume is recorded at 18006348. 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 $6.87 area but be careful because the stock may face selling pressure at this level.
Shares of iShares MSCI EAFE Index (EFA) fell by 0.42% or $-0.21/share to $50.1. In the past year, the shares have traded as low as $43.88 and as high as $57.36. On average, 20586970 shares of EFA exchange hands on a given day and today's volume is recorded at 15856199. 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 $50.11 represents resistance and the 50-day moving average of $48.31 would be an area of support.
