The following stocks were detected to be trading among the most active on May 2: Charming Shoppes Inc, Chesapeake Energy Corporation, Bank of America Corporation, SPDR S&P 500, and Financial Select Sector SPDR. 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 Charming Shoppes Inc. (CHRS) traded higher by 23.39% or $1.38/share to $7.28. In the past year, the shares have traded as low as $2.29 and as high as $6.38. On average, 1656390 shares of CHRS exchange hands on a given day and today's volume is recorded at 81279048. 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 $5.83 area where the stock will likely see buying pressure.
Shares of Chesapeake Energy Corporation (CHK) fell by 13.24% or $-2.59/share to $17.0. In the past year, the shares have traded as low as $16.78 and as high as $35.33. On average, 20265070 shares of CHK exchange hands on a given day and today's volume is recorded at 66274008. 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 $22.37 area but be careful because the stock may face selling pressure at this level.
Shares of Bank of America Corporation (BAC) fell by 1.68% or $-0.14/share to $8.17. In the past year, the shares have traded as low as $4.91 and as high as $12.64. On average, 273722300 shares of BAC exchange hands on a given day and today's volume is recorded at 60526348. 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 $7.33 would be an area of support.
Shares of SPDR S&P 500 (SPY) fell by 0.55% or $-0.77/share to $139.96. In the past year, the shares have traded as low as $106.28 and as high as $142.21. On average, 144519270 shares of SPY exchange hands on a given day and today's volume is recorded at 45253096. 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 $138.44 area where the stock will likely see buying pressure.
Shares of Financial Select Sector SPDR (XLF) fell by 1.12% or $-0.17/share to $15.41. In the past year, the shares have traded as low as $10.84 and as high as $16.17. On average, 77473420 shares of XLF exchange hands on a given day and today's volume is recorded at 22325388. 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 $15.27 area where the stock will likely see buying pressure.
