The following stocks were detected to be trading among the most active on May 7: American International Group, Inc, Bank of America Corporation, SPDR S&P 500, Financial Select Sector SPDR, and Vertex Pharmaceuticals Incorporated. 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 American International Group, Inc. (AIG) fell by 4.54% or $-1.49/share to $31.34. In the past year, the shares have traded as low as $19.18 and as high as $35.05. On average, 12583290 shares of AIG exchange hands on a given day and today's volume is recorded at 92167248. 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 $30.74 area where the stock will likely see buying pressure.
Shares of Bank of America Corporation (BAC) traded higher by 1.56% or $0.12/share to $7.86. In the past year, the shares have traded as low as $4.91 and as high as $12.41. On average, 268410130 shares of BAC exchange hands on a given day and today's volume is recorded at 74671992. 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 $8.73 represents resistance and the 200-day moving average of $7.30 would be an area of support.
Shares of SPDR S&P 500 (SPY) fell by 0.13% or $-0.18/share to $136.82. In the past year, the shares have traded as low as $106.28 and as high as $142.21. On average, 145160830 shares of SPY exchange hands on a given day and today's volume is recorded at 46013176. 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 $138.62 represents resistance and the 200-day moving average of $126.85 would be an area of support.
Shares of Financial Select Sector SPDR (XLF) traded higher by 0.01% or $0.00/share to $15.1. In the past year, the shares have traded as low as $10.85 and as high as $16.01. On average, 77489190 shares of XLF exchange hands on a given day and today's volume is recorded at 33052266. 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 $15.32 represents resistance and the 200-day moving average of $13.65 would be an area of support.
Shares of Vertex Pharmaceuticals Incorporated (VRTX) traded higher by 47.02% or $17.59/share to $55.0. In the past year, the shares have traded as low as $26.50 and as high as $58.87. On average, 2391380 shares of VRTX exchange hands on a given day and today's volume is recorded at 19377352. 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 $39.34 area.
