The following stocks were detected to be trading among the most active on August 8: Bank of America Corporation, SPDR S&P 500, SIRIUS XM Radio Inc, Ford Motor Co, 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 Bank of America Corporation (BAC) fell by 9.67% or $-0.79/share to $7.38. In the past year, the shares have traded as low as $8.03 and as high as $15.29. On average, 163671570 shares of BAC exchange hands on a given day and today's volume is recorded at 137008448. 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 $10.45 area but be careful because the stock may face selling pressure at this level.
Shares of SPDR S&P 500 (SPY) fell by 3.36% or $-4.03/share to $116.04. In the past year, the shares have traded as low as $102.25 and as high as $136.50. On average, 209805970 shares of SPY exchange hands on a given day and today's volume is recorded at 124309095. 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 $127.88 area where the stock may encounter resistance.
Shares of SIRIUS XM Radio Inc. (SIRI) fell by 7.94% or $-0.15/share to $1.74. In the past year, the shares have traded as low as $0.95 and as high as $2.44. On average, 91652430 shares of SIRI exchange hands on a given day and today's volume is recorded at 56706413. 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 $1.80 area where the stock may encounter resistance.
Shares of Ford Motor Co. (F) fell by 7.38% or $-0.80/share to $10.04. In the past year, the shares have traded as low as $10.32 and as high as $18.97. On average, 64825870 shares of F exchange hands on a given day and today's volume is recorded at 49534940. 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 $13.26 area but be careful because the stock may face selling pressure at this level.
Shares of PowerShares QQQ (QQQ) fell by 3.59% or $-1.93/share to $51.9. In the past year, the shares have traded as low as $42.63 and as high as $59.83. On average, 60983080 shares of QQQ exchange hands on a given day and today's volume is recorded at 47664848. 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.
