The following stocks were detected to be trading among the most active on May 16: Bank of America Corporation, SPDR S&P 500, iShares MSCI Emerging Markets Index, General Electric Company, and J. C. Penney Company, 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) traded higher by 1.85% or $0.13/share to $7.43. In the past year, the shares have traded as low as $4.91 and as high as $12.04. On average, 249669620 shares of BAC exchange hands on a given day and today's volume is recorded at 34305448. 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 $8.67 represents resistance and the 200-day moving average of $7.22 would be an area of support.
Shares of SPDR S&P 500 (SPY) traded higher by 0.68% or $0.91/share to $134.25. In the past year, the shares have traded as low as $106.29 and as high as $142.21. On average, 148498070 shares of SPY exchange hands on a given day and today's volume is recorded at 31444838. 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 $138.46 represents resistance and the 200-day moving average of $127.03 would be an area of support.
Shares of iShares MSCI Emerging Markets Index (EEM) fell by 0.26% or $-0.10/share to $38.62. In the past year, the shares have traded as low as $33.10 and as high as $48.17. On average, 50597540 shares of EEM exchange hands on a given day and today's volume is recorded at 19708652. The shares are currently trading below the 200-day moving average which indicates that the shares have been suffering from downward momentum lately. The stock may bounce higher to test the 200-day moving average, so look for a move up to the $40.60 area where the stock may encounter resistance.
Shares of General Electric Company (GE) traded higher by 3.37% or $0.62/share to $19.02. In the past year, the shares have traded as low as $13.77 and as high as $21.00. On average, 43492230 shares of GE exchange hands on a given day and today's volume is recorded at 16874912. 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 $19.45 represents resistance and the 200-day moving average of $17.37 would be an area of support.
Shares of J. C. Penney Company, Inc. (JCP) fell by 12.97% or $-4.32/share to $29.0. In the past year, the shares have traded as low as $23.01 and as high as $42.94. On average, 5046380 shares of JCP exchange hands on a given day and today's volume is recorded at 14721836. The shares are currently trading below the 200-day moving average which indicates that the shares have been suffering from downward momentum lately. The stock may bounce higher to test the 200-day moving average, so look for a move up to the $32.90 area where the stock may encounter resistance.
