The following stocks were detected to be trading among the most active on January 3: Bank of America Corporation, SPDR S&P 500, iShares MSCI Emerging Markets Index, Citigroup, Inc, and SIRIUS XM Radio 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 4.87% or $0.27/share to $5.83. In the past year, the shares have traded as low as $4.92 and as high as $15.24. On average, 263161590 shares of BAC exchange hands on a given day and today's volume is recorded at 95046152. 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 $5.86 area but be careful because the stock may face selling pressure at this level.
Shares of SPDR S&P 500 (SPY) traded higher by 2.22% or $2.79/share to $128.29. In the past year, the shares have traded as low as $106.75 and as high as $134.94. On average, 231483340 shares of SPY exchange hands on a given day and today's volume is recorded at 52683680. 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 $124.67 area.
Shares of iShares MSCI Emerging Markets Index (EEM) traded higher by 3.37% or $1.28/share to $39.22. In the past year, the shares have traded as low as $33.11 and as high as $49.45. On average, 67218400 shares of EEM exchange hands on a given day and today's volume is recorded at 26900176. 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 $42.73 represents resistance and the 50-day moving average of $38.79 would be an area of support.
Shares of Citigroup, Inc. (C) traded higher by 7.15% or $1.88/share to $28.19. In the past year, the shares have traded as low as $21.39 and as high as $51.46. On average, 58115150 shares of C exchange hands on a given day and today's volume is recorded at 25282872. 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 $34.62 represents resistance and the 50-day moving average of $28.08 would be an area of support.
Shares of SIRIUS XM Radio Inc. (SIRI) traded higher by 2.75% or $0.05/share to $1.87. In the past year, the shares have traded as low as $1.27 and as high as $2.44. On average, 55669890 shares of SIRI exchange hands on a given day and today's volume is recorded at 23900372. 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 $1.89 represents resistance and the 50-day moving average of $1.77 would be an area of support.
