The following stocks were detected to be trading among the most active on June 24: SPDR S&P 500, Micron Technology Inc, Oracle Corp, Bank of America Corporation, and iShares Russell 2000 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 SPDR S&P 500 (SPY) fell by 0.83% or $-1.06/share to $127.23. In the past year, the shares have traded as low as $99.14 and as high as $136.50. On average, 166486850 shares of SPY exchange hands on a given day and today's volume is recorded at 47032336. 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 $131.53 represents resistance and the 200-day moving average of $125.24 would be an area of support.
Shares of Micron Technology Inc. (MU) fell by 12.23% or $-1.03/share to $7.4. In the past year, the shares have traded as low as $6.36 and as high as $11.95. On average, 36429170 shares of MU exchange hands on a given day and today's volume is recorded at 45837640. 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 $9.22 area where the stock may encounter resistance.
Shares of Oracle Corp. (ORCL) fell by 3.88% or $-1.26/share to $31.2. In the past year, the shares have traded as low as $21.08 and as high as $36.50. On average, 27911170 shares of ORCL exchange hands on a given day and today's volume is recorded at 25131404. 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 $33.63 represents resistance and the 200-day moving average of $31.08 would be an area of support.
Shares of Bank of America Corporation (BAC) fell by 0.56% or $-0.06/share to $10.65. In the past year, the shares have traded as low as $10.40 and as high as $15.67. On average, 132863239 shares of BAC exchange hands on a given day and today's volume is recorded at 22181512. 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 $11.69 area but be careful because the stock may face selling pressure at this level.
Shares of iShares Russell 2000 Index (IWM) fell by 0.67% or $-0.54/share to $79.82. In the past year, the shares have traded as low as $58.13 and as high as $86.82. On average, 59515320 shares of IWM exchange hands on a given day and today's volume is recorded at 18547482. 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 $82.24 represents resistance and the 200-day moving average of $77.36 would be an area of support.
