The following stocks were detected to be trading among the most active on October 19: Bank of America Corporation, SPDR S&P 500, Intel Corporation, Financial Select Sector SPDR, 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 1.66% or $0.11/share to $6.75. In the past year, the shares have traded as low as $5.13 and as high as $15.27. On average, 298949560 shares of BAC exchange hands on a given day and today's volume is recorded at 121276136. 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 $6.85 area but be careful because the stock may face selling pressure at this level.
Shares of SPDR S&P 500 (SPY) traded higher by 0.07% or $0.09/share to $122.67. In the past year, the shares have traded as low as $107.43 and as high as $135.80. On average, 312098040 shares of SPY exchange hands on a given day and today's volume is recorded at 62076252. 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 $126.61 represents resistance and the 50-day moving average of $117.33 would be an area of support.
Shares of Intel Corporation (INTC) traded higher by 4.08% or $0.95/share to $24.35. In the past year, the shares have traded as low as $18.27 and as high as $23.72. On average, 63117600 shares of INTC exchange hands on a given day and today's volume is recorded at 53956484. The shares are currently trading above the 200-day moving average which indicates that the shares have been subject to upward momentum. The 200 DMA is above the 50 DMA which indicates that the stock has likely taken a dip in the shorter term. The stock may eventually drop to test the 200-day moving average where buyers may be lurking near the $21.27 area.
Shares of Financial Select Sector SPDR (XLF) traded higher by 0.63% or $0.08/share to $12.87. In the past year, the shares have traded as low as $10.95 and as high as $17.03. On average, 124584150 shares of XLF exchange hands on a given day and today's volume is recorded at 33253422. 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 $14.94 represents resistance and the 50-day moving average of $12.44 would be an area of support.
Shares of Direxion Daily Financial Bull 3X Shares (FAS) traded higher by 1.09% or $0.14/share to $12.97. In the past year, the shares have traded as low as $8.43 and as high as $34.29. On average, 61266880 shares of FAS exchange hands on a given day and today's volume is recorded at 33007164. 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 $24.18 represents resistance and the 50-day moving average of $12.69 would be an area of support.
