The following stocks were detected to be trading among the most active on May 9: SPDR S&P 500, Bank of America Corporation, SIRIUS XM Radio Inc, iShares MSCI Emerging Markets Index, 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 SPDR S&P 500 (SPY) fell by 1.33% or $-1.82/share to $134.73. In the past year, the shares have traded as low as $106.28 and as high as $142.21. On average, 146834880 shares of SPY exchange hands on a given day and today's volume is recorded at 57746884. 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 $138.64 represents resistance and the 200-day moving average of $126.89 would be an area of support.
Shares of Bank of America Corporation (BAC) fell by 1.16% or $-0.09/share to $7.7. In the past year, the shares have traded as low as $4.91 and as high as $12.37. On average, 263410580 shares of BAC exchange hands on a given day and today's volume is recorded at 56872920. 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 $7.28 would be an area of support.
Shares of SIRIUS XM Radio Inc. (SIRI) fell by 0.7% or $-0.02/share to $2.13. In the past year, the shares have traded as low as $1.27 and as high as $2.45. On average, 53724350 shares of SIRI exchange hands on a given day and today's volume is recorded at 33229744. 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 $2.26 represents resistance and the 200-day moving average of $1.96 would be an area of support.
Shares of iShares MSCI Emerging Markets Index (EEM) fell by 2.23% or $-0.91/share to $39.94. In the past year, the shares have traded as low as $33.10 and as high as $48.17. On average, 49502630 shares of EEM exchange hands on a given day and today's volume is recorded at 23856482. 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 $40.78 area where the stock may encounter resistance.
Shares of Financial Select Sector SPDR (XLF) fell by 1.79% or $-0.27/share to $14.82. In the past year, the shares have traded as low as $10.85 and as high as $16.01. On average, 79069450 shares of XLF exchange hands on a given day and today's volume is recorded at 18398376. 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 $15.34 represents resistance and the 200-day moving average of $13.65 would be an area of support.
