The following stocks were detected to be trading among the most active on February 24: Bank of America Corporation, SPDR S&P 500, Nokia Corporation, SIRIUS XM Radio Inc, and Sprint Nextel Corp. 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 0.12% or $0.01/share to $8.03. In the past year, the shares have traded as low as $4.92 and as high as $14.64. On average, 284179660 shares of BAC exchange hands on a given day and today's volume is recorded at 52312892. 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 $7.86 area.
Shares of SPDR S&P 500 (SPY) traded higher by 0.27% or $0.37/share to $136.99. In the past year, the shares have traded as low as $106.75 and as high as $137.04. On average, 162200670 shares of SPY exchange hands on a given day and today's volume is recorded at 39077320. 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 $129.89 area where the stock will likely see buying pressure.
Shares of Nokia Corporation (NOK) traded higher by 5.42% or $0.30/share to $5.84. In the past year, the shares have traded as low as $4.46 and as high as $8.87. On average, 29984860 shares of NOK exchange hands on a given day and today's volume is recorded at 33244974. 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 $5.97 represents resistance and the 50-day moving average of $5.16 would be an area of support.
Shares of SIRIUS XM Radio Inc. (SIRI) traded higher by 2.93% or $0.06/share to $2.16. In the past year, the shares have traded as low as $1.27 and as high as $2.44. On average, 49189430 shares of SIRI exchange hands on a given day and today's volume is recorded at 33070812. 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 $2.01 area where the stock will likely see buying pressure.
Shares of Sprint Nextel Corp. (S) fell by 1.19% or $-0.03/share to $2.49. In the past year, the shares have traded as low as $2.10 and as high as $6.45. On average, 39771680 shares of S exchange hands on a given day and today's volume is recorded at 23883178. 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 $3.50 represents resistance and the 50-day moving average of $2.29 would be an area of support.
