Best stock to watch for week august 22 2011

Best stock to watch for week august 22 2011, : The following stocks were among the best performers for the week: ProShares UltraShort Financials, ProShares UltraShort S&P500, Research In Motion Limited, Open Text Corp, and Nokia Corporation.



Shares of ProShares UltraShort Financials (SKF) had a total return gain of 8.98% for the week and are currently trading at $85.33. In the past year, the shares have traded as low as $53.92 and as high as $95.52. On average, 1968810 shares of SKF exchange hands on a given day and today's volume is recorded at 3205325. 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 $67.26 area where the stock will likely see buying pressure.



Shares of ProShares UltraShort S&P500 (SDS) had a total return gain of 8.96% for the week and are currently trading at $26.74. In the past year, the shares have traded as low as $19.48 and as high as $36.17. On average, 33411610 shares of SDS exchange hands on a given day and today's volume is recorded at 64214076. 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 $22.38 area.



Shares of Research In Motion Limited (RIMM) had a total return gain of 8.67% for the week and are currently trading at $26.69. In the past year, the shares have traded as low as $21.60 and as high as $70.53. On average, 23054170 shares of RIMM exchange hands on a given day and today's volume is recorded at 31019836. 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 $27.85 area but be careful because the stock may face selling pressure at this level.



Shares of Open Text Corp (OTEX) had a total return gain of 8.31% for the week and are currently trading at $55.38. In the past year, the shares have traded as low as $40.48 and as high as $72.32. On average, 432530 shares of OTEX exchange hands on a given day and today's volume is recorded at 990945. 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 $56.38 area where the stock may encounter resistance.



Shares of Nokia Corporation (NOK) had a total return gain of 8.21% for the week and are currently trading at $5.8. In the past year, the shares have traded as low as $4.82 and as high as $11.06. On average, 41643630 shares of NOK exchange hands on a given day and today's volume is recorded at 50250240. 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 $5.83 area but be careful because the stock may face selling pressure at this level.



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