The following stocks were detected to be trading among the most active on October 13: Bank of America Corporation, SPDR S&P 500, Financial Select Sector SPDR, Sprint Nextel Corp, and JPMorgan Chase & Co. 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) fell by 6.08% or $-0.40/share to $6.18. In the past year, the shares have traded as low as $5.13 and as high as $15.27. On average, 293087470 shares of BAC exchange hands on a given day and today's volume is recorded at 85562592. 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 $7.01 area but be careful because the stock may face selling pressure at this level.
Shares of SPDR S&P 500 (SPY) fell by 1.29% or $-1.56/share to $119.19. In the past year, the shares have traded as low as $107.43 and as high as $135.80. On average, 310604650 shares of SPY exchange hands on a given day and today's volume is recorded at 74138344. 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 $126.66 represents resistance and the 50-day moving average of $117.14 would be an area of support.
Shares of Financial Select Sector SPDR (XLF) fell by 3.53% or $-0.45/share to $12.3. In the past year, the shares have traded as low as $10.95 and as high as $17.03. On average, 123323870 shares of XLF exchange hands on a given day and today's volume is recorded at 37629432. 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 $12.51 area but be careful because the stock may face selling pressure at this level.
Shares of Sprint Nextel Corp. (S) traded higher by 2.92% or $0.07/share to $2.64. In the past year, the shares have traded as low as $2.10 and as high as $6.44. On average, 76126990 shares of S exchange hands on a given day and today's volume is recorded at 31715816. 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 $3.27 area but be careful because the stock may face selling pressure at this level.
Shares of JPMorgan Chase & Co. (JPM) fell by 5.78% or $-1.92/share to $31.28. In the past year, the shares have traded as low as $27.85 and as high as $47.39. On average, 47588350 shares of JPM exchange hands on a given day and today's volume is recorded at 29682704. 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 $33.54 area but be careful because the stock may face selling pressure at this level.
