The following stocks were detected to be trading among the most active on August 2: SPDR S&P 500, SIRIUS XM Radio Inc, Bank of America Corporation, Financial Select Sector SPDR, and MetroPCS Communications, 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 SPDR S&P 500 (SPY) fell by 0.97% or $-1.25/share to $127.53. In the past year, the shares have traded as low as $102.24 and as high as $136.51. On average, 190843960 shares of SPY exchange hands on a given day and today's volume is recorded at 78556368. 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 $127.73 area where the stock may encounter resistance.
Shares of SIRIUS XM Radio Inc. (SIRI) traded higher by 1.42% or $0.03/share to $2.14. In the past year, the shares have traded as low as $0.95 and as high as $2.44. On average, 92362050 shares of SIRI exchange hands on a given day and today's volume is recorded at 59838480. 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 $2.14 represents resistance and the 200-day moving average of $1.79 would be an area of support.
Shares of Bank of America Corporation (BAC) fell by 1.02% or $-0.10/share to $9.71. In the past year, the shares have traded as low as $9.40 and as high as $15.29. On average, 152280880 shares of BAC exchange hands on a given day and today's volume is recorded at 49246864. 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 $10.65 area but be careful because the stock may face selling pressure at this level.
Shares of Financial Select Sector SPDR (XLF) fell by 1.25% or $-0.18/share to $14.56. In the past year, the shares have traded as low as $13.13 and as high as $17.08. On average, 81839020 shares of XLF exchange hands on a given day and today's volume is recorded at 33283340. 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 $15.10 area but be careful because the stock may face selling pressure at this level.
Shares of MetroPCS Communications, Inc. (PCS) fell by 31.21% or $-5.05/share to $11.13. In the past year, the shares have traded as low as $8.25 and as high as $18.79. On average, 5481950 shares of PCS exchange hands on a given day and today's volume is recorded at 31848016. 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 $14.68 area where the stock may encounter resistance.
