The following stocks were detected to be trading among the most active on May 29: SPDR S&P 500, Bank of America Corporation, iShares MSCI Emerging Markets Index, Sprint Nextel Corp, and Facebook, 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 SPDR S&P 500 (SPY) traded higher by 1.36% or $1.80/share to $133.89. In the past year, the shares have traded as low as $106.28 and as high as $142.21. On average, 156982200 shares of SPY exchange hands on a given day and today's volume is recorded at 39579516. 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 $137.58 represents resistance and the 200-day moving average of $127.56 would be an area of support.
Shares of Bank of America Corporation (BAC) traded higher by 1.82% or $0.13/share to $7.28. In the past year, the shares have traded as low as $4.91 and as high as $11.86. On average, 243127930 shares of BAC exchange hands on a given day and today's volume is recorded at 38606264. 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 $8.47 represents resistance and the 200-day moving average of $7.17 would be an area of support.
Shares of iShares MSCI Emerging Markets Index (EEM) traded higher by 3.2% or $1.19/share to $38.34. In the past year, the shares have traded as low as $33.10 and as high as $48.17. On average, 53094370 shares of EEM exchange hands on a given day and today's volume is recorded at 27950024. 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 $40.40 area where the stock may encounter resistance.
Shares of Sprint Nextel Corp. (S) traded higher by 1.15% or $0.03/share to $2.65. In the past year, the shares have traded as low as $2.10 and as high as $6.45. On average, 49504900 shares of S exchange hands on a given day and today's volume is recorded at 20624184. The shares are currently trading below the 200-day moving average but above the 50-day moving average. The stock may be range bound between these two levels where the 200-day moving average of $2.68 represents resistance and the 50-day moving average of $2.58 would be an area of support.
Shares of Facebook, Inc. (FB) fell by 5.26% or $-1.68/share to $30.23. In the past year, the shares have traded as low as $30.94 and as high as $45.00. On average, 167423780 shares of FB exchange hands on a given day and today's volume is recorded at 19991648. 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 $33.37 area but be careful because the stock may face selling pressure at this level.
