The following stocks were detected to be trading among the most active on August 30: Bank of America Corporation, SPDR S&P 500, Financial Select Sector SPDR, Sprint Nextel Corp, and SIRIUS XM Radio Inc. 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 Bank of America Corporation (BAC) fell by 2.8% or $-0.23/share to $8.15. In the past year, the shares have traded as low as $6.01 and as high as $15.28. On average, 239955120 shares of BAC exchange hands on a given day and today's volume is recorded at 137072656. 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 $9.24 area but be careful because the stock may face selling pressure at this level.
Shares of SPDR S&P 500 (SPY) fell by 0.62% or $-0.75/share to $120.61. In the past year, the shares have traded as low as $102.44 and as high as $136.50. On average, 269113130 shares of SPY exchange hands on a given day and today's volume is recorded at 75460832. 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 $126.02 area but be careful because the stock may face selling pressure at this level.
Shares of Financial Select Sector SPDR (XLF) fell by 1.28% or $-0.17/share to $13.13. In the past year, the shares have traded as low as $11.81 and as high as $17.09. On average, 109219000 shares of XLF exchange hands on a given day and today's volume is recorded at 35588464. 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 $14.21 area but be careful because the stock may face selling pressure at this level.
Shares of Sprint Nextel Corp. (S) traded higher by 2.6% or $0.09/share to $3.55. In the past year, the shares have traded as low as $2.98 and as high as $6.45. On average, 60908690 shares of S exchange hands on a given day and today's volume is recorded at 31802048. 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 $4.49 area but be careful because the stock may face selling pressure at this level.
Shares of SIRIUS XM Radio Inc. (SIRI) fell by 0.28% or $-0.01/share to $1.8. In the past year, the shares have traded as low as $0.95 and as high as $2.43. On average, 93302050 shares of SIRI exchange hands on a given day and today's volume is recorded at 23550434. 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 $1.82 area where the stock may encounter resistance.