The following stocks were detected to be trading among the most active on August 11: SPDR S&P 500, Cisco Systems, Inc, Bank of America Corporation, Financial Select Sector SPDR, and PowerShares QQQ. 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 2.42% or $2.72/share to $115.01. In the past year, the shares have traded as low as $102.24 and as high as $136.51. On average, 235360620 shares of SPY exchange hands on a given day and today's volume is recorded at 141677488. 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 $127.85 area where the stock may encounter resistance.
Shares of Cisco Systems, Inc. (CSCO) traded higher by 17.77% or $2.44/share to $16.17. In the past year, the shares have traded as low as $13.30 and as high as $24.42. On average, 75242360 shares of CSCO exchange hands on a given day and today's volume is recorded at 108460265. 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 $18.15 represents resistance and the 50-day moving average of $15.43 would be an area of support.
Shares of Bank of America Corporation (BAC) traded higher by 6.28% or $0.43/share to $7.2. In the past year, the shares have traded as low as $6.31 and as high as $15.30. On average, 185009760 shares of BAC exchange hands on a given day and today's volume is recorded at 99721280. 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 $10.18 area but be careful because the stock may face selling pressure at this level.
Shares of Financial Select Sector SPDR (XLF) traded higher by 3.12% or $0.38/share to $12.57. In the past year, the shares have traded as low as $12.04 and as high as $17.09. On average, 94875380 shares of XLF exchange hands on a given day and today's volume is recorded at 58267260. 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 $14.79 area but be careful because the stock may face selling pressure at this level.
Shares of PowerShares QQQ (QQQ) traded higher by 2.95% or $1.50/share to $52.36. In the past year, the shares have traded as low as $42.63 and as high as $59.83. On average, 68073640 shares of QQQ exchange hands on a given day and today's volume is recorded at 44199920. 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 $55.95 area where the stock may encounter resistance.
