The following stocks were detected to be trading among the most active on August 26: Bank of America Corporation, SPDR S&P 500, PowerShares QQQ, Direxion Daily Financial Bull 3X Shares, 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 Bank of America Corporation (BAC) fell by 0.26% or $-0.02/share to $7.63. In the past year, the shares have traded as low as $6.01 and as high as $15.29. On average, 231259620 shares of BAC exchange hands on a given day and today's volume is recorded at 154882080. 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 $9.35 area but be careful because the stock may face selling pressure at this level.
Shares of SPDR S&P 500 (SPY) traded higher by 0.59% or $0.69/share to $116.97. In the past year, the shares have traded as low as $102.26 and as high as $136.50. On average, 265675659 shares of SPY exchange hands on a given day and today's volume is recorded at 145730560. 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 $126.30 area but be careful because the stock may face selling pressure at this level.
Shares of PowerShares QQQ (QQQ) traded higher by 1.74% or $0.90/share to $52.73. In the past year, the shares have traded as low as $42.63 and as high as $59.83. On average, 75270550 shares of QQQ exchange hands on a given day and today's volume is recorded at 53136240. 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 $55.68 area but be careful because the stock may face selling pressure at this level.
Shares of Direxion Daily Financial Bull 3X Shares (FAS) traded higher by 0.75% or $0.10/share to $13.41. In the past year, the shares have traded as low as $8.72 and as high as $34.29. On average, 35316030 shares of FAS exchange hands on a given day and today's volume is recorded at 42917436. 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 $20.92 area but be careful because the stock may face selling pressure at this level.
Shares of Financial Select Sector SPDR (XLF) traded higher by 0.16% or $0.02/share to $12.68. In the past year, the shares have traded as low as $11.81 and as high as $17.09. On average, 108021350 shares of XLF exchange hands on a given day and today's volume is recorded at 42612656. 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 $14.29 area but be careful because the stock may face selling pressure at this level.
