The following stocks were detected to be trading among the most active on May 11: Bank of America Corporation, JPMorgan Chase & Co, SPDR S&P 500, Arena Pharmaceuticals, Inc, 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 Bank of America Corporation (BAC) fell by 0.39% or $-0.03/share to $7.67. In the past year, the shares have traded as low as $4.91 and as high as $12.37. On average, 256913940 shares of BAC exchange hands on a given day and today's volume is recorded at 119919320. 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 $8.71 represents resistance and the 200-day moving average of $7.26 would be an area of support.
Shares of JPMorgan Chase & Co. (JPM) fell by 7.93% or $-3.23/share to $37.51. In the past year, the shares have traded as low as $27.47 and as high as $46.19. On average, 32296990 shares of JPM exchange hands on a given day and today's volume is recorded at 107547064. 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 $43.18 represents resistance and the 200-day moving average of $36.27 would be an area of support.
Shares of SPDR S&P 500 (SPY) traded higher by 0.29% or $0.39/share to $136.42. In the past year, the shares have traded as low as $106.28 and as high as $142.21. On average, 147718080 shares of SPY exchange hands on a given day and today's volume is recorded at 52113240. 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 $138.60 represents resistance and the 200-day moving average of $126.94 would be an area of support.
Shares of Arena Pharmaceuticals, Inc. (ARNA) traded higher by 60.38% or $2.21/share to $5.87. In the past year, the shares have traded as low as $1.23 and as high as $3.66. On average, 11263140 shares of ARNA exchange hands on a given day and today's volume is recorded at 41222196. 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 $2.42 area where the stock will likely see buying pressure.
Shares of Financial Select Sector SPDR (XLF) fell by 0.77% or $-0.12/share to $14.86. In the past year, the shares have traded as low as $10.84 and as high as $16.00. On average, 79338860 shares of XLF exchange hands on a given day and today's volume is recorded at 35847796. 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 $13.64 would be an area of support.
