The following stocks were detected to be trading among the most active on August 18: SPDR S&P 500, Bank of America Corporation, Financial Select Sector SPDR, PowerShares QQQ, and SIRIUS XM Radio 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 4.19% or $-5.01/share to $114.65. In the past year, the shares have traded as low as $102.24 and as high as $136.50. On average, 246893150 shares of SPY exchange hands on a given day and today's volume is recorded at 157658816. 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 $127.80 area but be careful because the stock may face selling pressure at this level.
Shares of Bank of America Corporation (BAC) fell by 7.57% or $-0.56/share to $6.89. In the past year, the shares have traded as low as $6.31 and as high as $15.28. On average, 195267430 shares of BAC exchange hands on a given day and today's volume is recorded at 119198368. 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 $9.80 area but be careful because the stock may face selling pressure at this level.
Shares of Financial Select Sector SPDR (XLF) fell by 4.84% or $-0.63/share to $12.38. In the past year, the shares have traded as low as $12.04 and as high as $17.09. On average, 100585340 shares of XLF exchange hands on a given day and today's volume is recorded at 68430776. 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 $14.58 area but be careful because the stock may face selling pressure at this level.
Shares of PowerShares QQQ (QQQ) fell by 4.55% or $-2.44/share to $51.14. In the past year, the shares have traded as low as $42.63 and as high as $59.83. On average, 70476160 shares of QQQ exchange hands on a given day and today's volume is recorded at 51986300. 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 $56.00 area where the stock may encounter resistance.
Shares of SIRIUS XM Radio Inc. (SIRI) fell by 4.54% or $-0.09/share to $1.83. In the past year, the shares have traded as low as $0.95 and as high as $2.44. On average, 90870070 shares of SIRI exchange hands on a given day and today's volume is recorded at 49141300. 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 $2.05 represents resistance and the 200-day moving average of $1.81 would be an area of support.
