The following stocks were detected to be trading among the most active on October 17: Bank of America Corporation, SPDR S&P 500, El Paso Corp, Citigroup, Inc, and Brigham Exploration 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 1.53% or $-0.09/share to $6.09. In the past year, the shares have traded as low as $5.13 and as high as $15.26. On average, 294928780 shares of BAC exchange hands on a given day and today's volume is recorded at 66768284. 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 $6.88 area but be careful because the stock may face selling pressure at this level.
Shares of SPDR S&P 500 (SPY) fell by 1.08% or $-1.32/share to $121.25. In the past year, the shares have traded as low as $107.43 and as high as $135.79. On average, 310501040 shares of SPY exchange hands on a given day and today's volume is recorded at 64787672. 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 $126.65 represents resistance and the 50-day moving average of $117.10 would be an area of support.
Shares of El Paso Corp. (EP) traded higher by 23.55% or $4.61/share to $24.2. In the past year, the shares have traded as low as $12.48 and as high as $21.52. On average, 10307450 shares of EP exchange hands on a given day and today's volume is recorded at 48708152. The shares are currently trading above the 50-day moving average which indicates that the shares have been experiencing strong upward momentum as the 50 DMA is above the 200 DMA. The stock may come back down to test the 50-day moving average, so look for a move back to the $18.38 area where the stock will likely see buying pressure.
Shares of Citigroup, Inc. (C) traded higher by 0.85% or $0.24/share to $28.64. In the past year, the shares have traded as low as $21.40 and as high as $51.47. On average, 53705340 shares of C exchange hands on a given day and today's volume is recorded at 38033208. 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 $39.84 represents resistance and the 50-day moving average of $27.90 would be an area of support.
Shares of Brigham Exploration Co. (BEXP) traded higher by 19.76% or $6.00/share to $36.36. In the past year, the shares have traded as low as $19.34 and as high as $37.87. On average, 2976250 shares of BEXP exchange hands on a given day and today's volume is recorded at 36789964. 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 $30.12 area.
