The following stocks were detected to be trading among the most active on June 20: SPDR S&P 500, Level 3 Communications Inc, Bank of America Corporation, Research In Motion Limited, and Financial Select Sector SPDR. 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 SPDR S&P 500 (SPY) fell by 0.01% or $-0.01/share to $127.04. In the past year, the shares have traded as low as $99.14 and as high as $136.50. On average, 163349620 shares of SPY exchange hands on a given day and today's volume is recorded at 33639860. 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 $131.80 represents resistance and the 200-day moving average of $124.83 would be an area of support.
Shares of Level 3 Communications Inc. (LVLT) traded higher by 0.47% or $0.01/share to $2.13. In the past year, the shares have traded as low as $0.83 and as high as $2.46. On average, 45749490 shares of LVLT exchange hands on a given day and today's volume is recorded at 24633148. 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 $1.89 area where the stock will likely see buying pressure.
Shares of Bank of America Corporation (BAC) fell by 0.94% or $-0.10/share to $10.58. In the past year, the shares have traded as low as $10.40 and as high as $16.05. On average, 135207860 shares of BAC exchange hands on a given day and today's volume is recorded at 24644396. 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 $11.91 area but be careful because the stock may face selling pressure at this level.
Shares of Research In Motion Limited (RIMM) fell by 4.63% or $-1.29/share to $26.47. In the past year, the shares have traded as low as $27.08 and as high as $70.55. On average, 16610310 shares of RIMM exchange hands on a given day and today's volume is recorded at 16253514. 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 $45.65 area but be careful because the stock may face selling pressure at this level.
Shares of Financial Select Sector SPDR (XLF) fell by 0.26% or $-0.04/share to $14.85. In the past year, the shares have traded as low as $13.13 and as high as $17.09. On average, 70267650 shares of XLF exchange hands on a given day and today's volume is recorded at 14180515. 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 $15.55 area where the stock may encounter resistance.
