The following stocks were detected to be trading among the most active on March 22: Bank of America Corporation, SPDR S&P 500, Financial Select Sector SPDR, iShares MSCI Emerging Markets Index, and PowerShares QQQ. 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 1.58% or $-0.16/share to $9.66. In the past year, the shares have traded as low as $4.91 and as high as $13.97. On average, 298673760 shares of BAC exchange hands on a given day and today's volume is recorded at 103012200. 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 $7.86 area where the stock will likely see buying pressure.
Shares of SPDR S&P 500 (SPY) fell by 0.91% or $-1.28/share to $138.93. In the past year, the shares have traded as low as $106.28 and as high as $141.28. On average, 139786710 shares of SPY exchange hands on a given day and today's volume is recorded at 55419984. 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 $134.43 area where the stock will likely see buying pressure.
Shares of Financial Select Sector SPDR (XLF) fell by 1.3% or $-0.21/share to $15.6. In the past year, the shares have traded as low as $10.84 and as high as $16.46. On average, 71725960 shares of XLF exchange hands on a given day and today's volume is recorded at 48564660. 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 $14.57 area where the stock will likely see buying pressure.
Shares of iShares MSCI Emerging Markets Index (EEM) fell by 1.62% or $-0.70/share to $42.54. In the past year, the shares have traded as low as $33.11 and as high as $49.45. On average, 50763820 shares of EEM exchange hands on a given day and today's volume is recorded at 32661894. The shares are currently trading below the 50-day moving average but above the 200-day moving average. The stock may be range bound between these two levels where the 50-day moving average of $42.93 represents resistance and the 200-day moving average of $41.42 would be an area of support.
Shares of PowerShares QQQ (QQQ) fell by 0.46% or $-0.31/share to $66.81. In the past year, the shares have traded as low as $49.56 and as high as $67.49. On average, 45498390 shares of QQQ exchange hands on a given day and today's volume is recorded at 25206980. 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 $62.62 area where the stock will likely see buying pressure.
