The following stocks were detected to be trading among the most active on July 1: SPDR S&P 500, Bank of America Corporation, Financial Select Sector SPDR, Ford Motor Co, 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) traded higher by 0.77% or $1.02/share to $132.98. In the past year, the shares have traded as low as $99.14 and as high as $136.50. On average, 171772990 shares of SPY exchange hands on a given day and today's volume is recorded at 82738264. 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 $131.40 area where the stock will likely see buying pressure.
Shares of Bank of America Corporation (BAC) traded higher by 0.36% or $0.04/share to $11.0. In the past year, the shares have traded as low as $10.40 and as high as $15.67. On average, 138996370 shares of BAC exchange hands on a given day and today's volume is recorded at 42603680. 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 $11.50 area but be careful because the stock may face selling pressure at this level.
Shares of Financial Select Sector SPDR (XLF) traded higher by 1.04% or $0.16/share to $15.51. In the past year, the shares have traded as low as $13.13 and as high as $17.09. On average, 71238850 shares of XLF exchange hands on a given day and today's volume is recorded at 36631176. 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 $15.59 represents resistance and the 50-day moving average of $15.50 would be an area of support.
Shares of Ford Motor Co. (F) traded higher by 0.69% or $0.10/share to $13.89. In the past year, the shares have traded as low as $10.02 and as high as $18.98. On average, 63469520 shares of F exchange hands on a given day and today's volume is recorded at 29905300. 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 $14.41 area but be careful because the stock may face selling pressure at this level.
Shares of iShares Russell 2000 Index (IWM) traded higher by 0.99% or $0.82/share to $83.62. In the past year, the shares have traded as low as $58.12 and as high as $86.81. On average, 60269500 shares of IWM exchange hands on a given day and today's volume is recorded at 27797778. 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 $82.13 area where the stock will likely see buying pressure.
