The following stocks were detected to be trading among the most active on July 8: SPDR S&P 500, Bank of America Corporation, PowerShares QQQ, Financial Select Sector SPDR, 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 1.22% or $-1.65/share to $133.71. In the past year, the shares have traded as low as $102.24 and as high as $136.51. On average, 175424620 shares of SPY exchange hands on a given day and today's volume is recorded at 66475952. 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 $131.49 area where the stock will likely see buying pressure.
Shares of Bank of America Corporation (BAC) fell by 1.79% or $-0.20/share to $10.73. In the past year, the shares have traded as low as $10.40 and as high as $15.68. On average, 142416150 shares of BAC exchange hands on a given day and today's volume is recorded at 26856426. 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 $11.39 area but be careful because the stock may face selling pressure at this level.
Shares of PowerShares QQQ (QQQ) fell by 0.84% or $-0.50/share to $58.69. In the past year, the shares have traded as low as $42.63 and as high as $59.36. On average, 50987400 shares of QQQ exchange hands on a given day and today's volume is recorded at 22158508. 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 $56.89 area where the stock will likely see buying pressure.
Shares of Financial Select Sector SPDR (XLF) fell by 1.78% or $-0.28/share to $15.38. In the past year, the shares have traded as low as $13.13 and as high as $17.09. On average, 72516890 shares of XLF exchange hands on a given day and today's volume is recorded at 21231328. 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 $15.46 area but be careful because the stock may face selling pressure at this level.
Shares of iShares Russell 2000 Index (IWM) fell by 1.35% or $-1.16/share to $84.49. In the past year, the shares have traded as low as $58.09 and as high as $86.55. On average, 61139230 shares of IWM exchange hands on a given day and today's volume is recorded at 20699580. 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 $81.90 area where the stock will likely see buying pressure.
