The following stocks were detected to be trading among the most active on August 22: SPDR S&P 500, Bank of America Corporation, Hewlett-Packard Company, Financial Select Sector SPDR, 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 SPDR S&P 500 (SPY) fell by 1.63% or $-1.87/share to $112.64. In the past year, the shares have traded as low as $102.24 and as high as $136.50. On average, 257616650 shares of SPY exchange hands on a given day and today's volume is recorded at 427880500. 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 $127.54 area but be careful because the stock may face selling pressure at this level.
Shares of Bank of America Corporation (BAC) fell by 0.57% or $-0.04/share to $6.97. In the past year, the shares have traded as low as $6.31 and as high as $15.29. On average, 200740450 shares of BAC exchange hands on a given day and today's volume is recorded at 288991800. 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 $9.74 area but be careful because the stock may face selling pressure at this level.
Shares of Hewlett-Packard Company (HPQ) fell by 20.03% or $-5.91/share to $23.6. In the past year, the shares have traded as low as $28.64 and as high as $49.13. On average, 23016630 shares of HPQ exchange hands on a given day and today's volume is recorded at 129059200. 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 $34.65 area but be careful because the stock may face selling pressure at this level.
Shares of Financial Select Sector SPDR (XLF) fell by 2.02% or $-0.25/share to $12.13. In the past year, the shares have traded as low as $12.04 and as high as $17.09. On average, 103626400 shares of XLF exchange hands on a given day and today's volume is recorded at 126349000. 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 $14.53 area but be careful because the stock may face selling pressure at this level.
Shares of PowerShares QQQ (QQQ) fell by 1.81% or $-0.92/share to $50.03. In the past year, the shares have traded as low as $42.63 and as high as $59.83. On average, 72810140 shares of QQQ exchange hands on a given day and today's volume is recorded at 96655200. 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 $55.99 area where the stock may encounter resistance.
