The following stocks were detected to be trading among the most active on August 31: SPDR S&P 500, Bank of America Corporation, Sprint Nextel Corp, AT&T, Inc, and Financial Select Sector SPDR. 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 1.21% or $1.47/share to $123.15. In the past year, the shares have traded as low as $102.44 and as high as $136.50. On average, 268685140 shares of SPY exchange hands on a given day and today's volume is recorded at 80960592. 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 $125.89 area but be careful because the stock may face selling pressure at this level.
Shares of Bank of America Corporation (BAC) traded higher by 0.37% or $0.03/share to $8.15. In the past year, the shares have traded as low as $6.01 and as high as $15.29. On average, 240839140 shares of BAC exchange hands on a given day and today's volume is recorded at 77726536. 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 $9.20 area but be careful because the stock may face selling pressure at this level.
Shares of Sprint Nextel Corp. (S) traded higher by 6.48% or $0.23/share to $3.78. In the past year, the shares have traded as low as $2.98 and as high as $6.45. On average, 61100870 shares of S exchange hands on a given day and today's volume is recorded at 66734592. 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 $4.46 area but be careful because the stock may face selling pressure at this level.
Shares of AT&T, Inc. (T) fell by 4.73% or $-1.40/share to $28.22. In the past year, the shares have traded as low as $25.04 and as high as $31.51. On average, 28001730 shares of T exchange hands on a given day and today's volume is recorded at 29489602. 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 $28.91 area where the stock may encounter resistance.
Shares of Financial Select Sector SPDR (XLF) traded higher by 1.63% or $0.22/share to $13.43. In the past year, the shares have traded as low as $11.81 and as high as $17.10. On average, 108876830 shares of XLF exchange hands on a given day and today's volume is recorded at 25811424. 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 $14.19 area but be careful because the stock may face selling pressure at this level.
