The following stocks were detected to be trading among the most active on March 29: Bank of America Corporation, SPDR S&P 500, Financial Select Sector SPDR, Sprint Nextel Corp, and Zynga, 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) fell by 2.05% or $-0.20/share to $9.55. In the past year, the shares have traded as low as $4.91 and as high as $13.81. On average, 301495280 shares of BAC exchange hands on a given day and today's volume is recorded at 90204896. 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 $8.17 area where the stock will likely see buying pressure.
Shares of SPDR S&P 500 (SPY) fell by 0.69% or $-0.97/share to $139.5. In the past year, the shares have traded as low as $106.29 and as high as $141.83. On average, 141201260 shares of SPY exchange hands on a given day and today's volume is recorded at 56405296. 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 $135.61 area where the stock will likely see buying pressure.
Shares of Financial Select Sector SPDR (XLF) fell by 1.45% or $-0.23/share to $15.64. In the past year, the shares have traded as low as $10.85 and as high as $16.47. On average, 75114140 shares of XLF exchange hands on a given day and today's volume is recorded at 37929116. 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 $14.78 area where the stock will likely see buying pressure.
Shares of Sprint Nextel Corp. (S) traded higher by 0.88% or $0.02/share to $2.86. In the past year, the shares have traded as low as $2.10 and as high as $6.46. On average, 45376730 shares of S exchange hands on a given day and today's volume is recorded at 37419600. 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 $3.17 represents resistance and the 50-day moving average of $2.47 would be an area of support.
Shares of Zynga, Inc. (ZNGA) traded higher by 2.12% or $0.26/share to $12.5. In the past year, the shares have traded as low as $7.97 and as high as $15.91. On average, 11094640 shares of ZNGA exchange hands on a given day and today's volume is recorded at 21294860. 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 $12.49 area where the stock will likely see buying pressure.
