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Wednesday, October 12, 2011

Active Stocks: (BAC), (SPY), (AA), (XLF), (C)

The following stocks were detected to be trading among the most active on October 12: Bank of America Corporation, SPDR S&P 500, Alcoa, Inc, Financial Select Sector SPDR, and Citigroup, 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 Bank of America Corporation (BAC) traded higher by 1.26% or $0.08/share to $6.45. In the past year, the shares have traded as low as $5.13 and as high as $15.27. On average, 290944110 shares of BAC exchange hands on a given day and today's volume is recorded at 61231556. 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 $7.06 area but be careful because the stock may face selling pressure at this level.

Shares of SPDR S&P 500 (SPY) traded higher by 1.31% or $1.57/share to $121.27. In the past year, the shares have traded as low as $107.43 and as high as $135.80. On average, 309578340 shares of SPY exchange hands on a given day and today's volume is recorded at 55802808. 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 $126.68 represents resistance and the 50-day moving average of $117.23 would be an area of support.

Shares of Alcoa, Inc. (AA) fell by 4.37% or $-0.45/share to $9.85. In the past year, the shares have traded as low as $8.45 and as high as $18.40. On average, 29678900 shares of AA exchange hands on a given day and today's volume is recorded at 31558568. 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 $11.44 area but be careful because the stock may face selling pressure at this level.

Shares of Financial Select Sector SPDR (XLF) traded higher by 2.29% or $0.28/share to $12.72. In the past year, the shares have traded as low as $10.95 and as high as $17.04. On average, 122365760 shares of XLF exchange hands on a given day and today's volume is recorded at 26736644. 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 $15.02 represents resistance and the 50-day moving average of $12.54 would be an area of support.

Shares of Citigroup, Inc. (C) traded higher by 4.8% or $1.34/share to $29.17. In the past year, the shares have traded as low as $21.40 and as high as $51.46. On average, 52293800 shares of C exchange hands on a given day and today's volume is recorded at 23979204. 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 $40.12 represents resistance and the 50-day moving average of $28.37 would be an area of support.