The following stocks were detected to be trading among the most active on August 29: Bank of America Corporation, SPDR S&P 500, Financial Select Sector SPDR, SIRIUS XM Radio Inc, and Direxion Daily Financial Bull 3X Shares. 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) traded higher by 5.28% or $0.41/share to $8.17. In the past year, the shares have traded as low as $6.01 and as high as $15.29. On average, 235950890 shares of BAC exchange hands on a given day and today's volume is recorded at 107435520. 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 $9.29 area but be careful because the stock may face selling pressure at this level.
Shares of SPDR S&P 500 (SPY) traded higher by 1.91% or $2.25/share to $120.22. In the past year, the shares have traded as low as $102.26 and as high as $136.51. On average, 268021599 shares of SPY exchange hands on a given day and today's volume is recorded at 49257080. 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 $126.14 area but be careful because the stock may face selling pressure at this level.
Shares of Financial Select Sector SPDR (XLF) traded higher by 2.9% or $0.37/share to $13.14. In the past year, the shares have traded as low as $11.81 and as high as $17.09. On average, 108486120 shares of XLF exchange hands on a given day and today's volume is recorded at 29057028. 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 $14.25 area but be careful because the stock may face selling pressure at this level.
Shares of SIRIUS XM Radio Inc. (SIRI) traded higher by 4.71% or $0.08/share to $1.78. In the past year, the shares have traded as low as $0.95 and as high as $2.44. On average, 92928580 shares of SIRI exchange hands on a given day and today's volume is recorded at 22392824. 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 $1.82 area where the stock may encounter resistance.
Shares of Direxion Daily Financial Bull 3X Shares (FAS) traded higher by 8.22% or $1.13/share to $14.87. In the past year, the shares have traded as low as $8.72 and as high as $34.29. On average, 36493580 shares of FAS exchange hands on a given day and today's volume is recorded at 17416014. 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 $20.74 area but be careful because the stock may face selling pressure at this level.
