The following stocks were detected to be trading among the most active on September 9: SPDR S&P 500, Bank of America Corporation, Sprint Nextel Corp, iShares Russell 2000 Index, and Cisco Systems, 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 0.99% or $-1.18/share to $117.86. In the past year, the shares have traded as low as $108.44 and as high as $136.51. On average, 275751820 shares of SPY exchange hands on a given day and today's volume is recorded at 82935120. 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 $124.83 area but be careful because the stock may face selling pressure at this level.
Shares of Bank of America Corporation (BAC) fell by 0.28% or $-0.02/share to $7.18. In the past year, the shares have traded as low as $6.00 and as high as $15.27. On average, 251572000 shares of BAC exchange hands on a given day and today's volume is recorded at 77957776. 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 $8.80 area but be careful because the stock may face selling pressure at this level.
Shares of Sprint Nextel Corp. (S) remained unchanged at $3.45. In the past year, the shares have traded as low as $2.98 and as high as $6.45. On average, 62103590 shares of S exchange hands on a given day and today's volume is recorded at 28117256. 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 $4.27 area but be careful because the stock may face selling pressure at this level.
Shares of iShares Russell 2000 Index (IWM) fell by 1.01% or $-0.70/share to $68.85. In the past year, the shares have traded as low as $62.29 and as high as $86.55. On average, 80423010 shares of IWM exchange hands on a given day and today's volume is recorded at 23666432. 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 $75.79 area but be careful because the stock may face selling pressure at this level.
Shares of Cisco Systems, Inc. (CSCO) fell by 1.2% or $-0.20/share to $16.09. In the past year, the shares have traded as low as $13.30 and as high as $24.41. On average, 73914020 shares of CSCO exchange hands on a given day and today's volume is recorded at 24270560. The shares are currently trading below the 200-day moving average but above the 50-day moving average. The stock may be range bound between these two levels where the 200-day moving average of $17.51 represents resistance and the 50-day moving average of $15.54 would be an area of support.
