The following stocks were detected to be trading among the most active on April 30: Bank of America Corporation, SPDR S&P 500, Financial Select Sector SPDR, Alcatel-Lucent, S.A, 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 2.39% or $-0.20/share to $8.05. In the past year, the shares have traded as low as $4.91 and as high as $12.64. On average, 276228820 shares of BAC exchange hands on a given day and today's volume is recorded at 43435444. 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 $8.72 represents resistance and the 200-day moving average of $7.34 would be an area of support.
Shares of SPDR S&P 500 (SPY) fell by 0.46% or $-0.65/share to $139.74. In the past year, the shares have traded as low as $106.28 and as high as $142.21. On average, 145540290 shares of SPY exchange hands on a given day and today's volume is recorded at 42205804. 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 $138.25 area where the stock will likely see buying pressure.
Shares of Financial Select Sector SPDR (XLF) fell by 0.89% or $-0.14/share to $15.38. In the past year, the shares have traded as low as $10.85 and as high as $16.18. On average, 77051580 shares of XLF exchange hands on a given day and today's volume is recorded at 20565090. 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 $15.24 area where the stock will likely see buying pressure.
Shares of Alcatel-Lucent, S.A. (ALU) fell by 2.56% or $-0.04/share to $1.52. In the past year, the shares have traded as low as $1.39 and as high as $6.63. On average, 25959570 shares of ALU exchange hands on a given day and today's volume is recorded at 17481020. 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 $2.24 area but be careful because the stock may face selling pressure at this level.
Shares of PowerShares QQQ (QQQ) fell by 0.57% or $-0.38/share to $66.86. In the past year, the shares have traded as low as $49.56 and as high as $68.55. On average, 50813300 shares of QQQ exchange hands on a given day and today's volume is recorded at 16723983. 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 $65.90 area where the stock will likely see buying pressure.
