The following stocks were detected to be trading among the most active on December 29: Bank of America Corporation, SPDR S&P 500, Financial Select Sector SPDR, General Electric Company, 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 1.51% or $0.08/share to $5.37. In the past year, the shares have traded as low as $4.92 and as high as $15.24. On average, 264029680 shares of BAC exchange hands on a given day and today's volume is recorded at 35520320. 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 $5.90 area but be careful because the stock may face selling pressure at this level.
Shares of SPDR S&P 500 (SPY) traded higher by 0.58% or $0.72/share to $125.56. In the past year, the shares have traded as low as $106.75 and as high as $134.94. On average, 237318140 shares of SPY exchange hands on a given day and today's volume is recorded at 25313220. 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 $124.66 area.
Shares of Financial Select Sector SPDR (XLF) traded higher by 1.2% or $0.15/share to $13.02. In the past year, the shares have traded as low as $10.88 and as high as $16.91. On average, 107497480 shares of XLF exchange hands on a given day and today's volume is recorded at 8290454. 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 $13.98 represents resistance and the 50-day moving average of $12.81 would be an area of support.
Shares of General Electric Company (GE) traded higher by 1.12% or $0.20/share to $18.03. In the past year, the shares have traded as low as $13.89 and as high as $20.93. On average, 67653900 shares of GE exchange hands on a given day and today's volume is recorded at 7400980. 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 $17.32 area.
Shares of Citigroup, Inc. (C) traded higher by 1.77% or $0.46/share to $26.59. In the past year, the shares have traded as low as $21.39 and as high as $51.45. On average, 58615010 shares of C exchange hands on a given day and today's volume is recorded at 6037343. 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 $28.20 area but be careful because the stock may face selling pressure at this level.
