The following stocks were detected to be trading among the most active on May 17: Bank of America Corporation, SPDR S&P 500, Financial Select Sector SPDR, JPMorgan Chase & Co, and iShares MSCI Emerging Markets Index. 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 0.42% or $-0.03/share to $7.08. In the past year, the shares have traded as low as $4.91 and as high as $11.88. On average, 247719920 shares of BAC exchange hands on a given day and today's volume is recorded at 73788200. 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 $7.21 area where the stock may encounter resistance.
Shares of SPDR S&P 500 (SPY) fell by 0.18% or $-0.24/share to $132.59. In the past year, the shares have traded as low as $106.28 and as high as $142.20. On average, 148830170 shares of SPY exchange hands on a given day and today's volume is recorded at 51594512. 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 $138.43 represents resistance and the 200-day moving average of $127.06 would be an area of support.
Shares of Financial Select Sector SPDR (XLF) fell by 0.7% or $-0.10/share to $14.12. In the past year, the shares have traded as low as $10.85 and as high as $16.01. On average, 81364070 shares of XLF exchange hands on a given day and today's volume is recorded at 35045504. 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 $15.33 represents resistance and the 200-day moving average of $13.64 would be an area of support.
Shares of JPMorgan Chase & Co. (JPM) fell by 2.96% or $-1.05/share to $34.41. In the past year, the shares have traded as low as $27.47 and as high as $46.19. On average, 38302760 shares of JPM exchange hands on a given day and today's volume is recorded at 27574620. 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 $36.20 area where the stock may encounter resistance.
Shares of iShares MSCI Emerging Markets Index (EEM) fell by 0.1% or $-0.04/share to $38.13. In the past year, the shares have traded as low as $33.10 and as high as $48.17. On average, 51085420 shares of EEM exchange hands on a given day and today's volume is recorded at 17925244. 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 $40.56 area where the stock may encounter resistance.
