The following stocks were detected to be trading among the most active on May 4: Bank of America Corporation, SPDR S&P 500, PowerShares QQQ, Financial Select Sector SPDR, and iShares Russell 2000 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 3.15% or $-0.25/share to $7.75. In the past year, the shares have traded as low as $4.91 and as high as $12.61. On average, 269594360 shares of BAC exchange hands on a given day and today's volume is recorded at 75000176. 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 $8.74 represents resistance and the 200-day moving average of $7.31 would be an area of support.
Shares of SPDR S&P 500 (SPY) fell by 1.13% or $-1.57/share to $137.68. In the past year, the shares have traded as low as $106.28 and as high as $142.22. On average, 144377470 shares of SPY exchange hands on a given day and today's volume is recorded at 58879416. 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 $138.59 represents resistance and the 200-day moving average of $126.81 would be an area of support.
Shares of PowerShares QQQ (QQQ) fell by 1.61% or $-1.07/share to $65.29. In the past year, the shares have traded as low as $49.57 and as high as $68.55. On average, 50694280 shares of QQQ exchange hands on a given day and today's volume is recorded at 36603836. 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 $66.18 represents resistance and the 200-day moving average of $58.87 would be an area of support.
Shares of Financial Select Sector SPDR (XLF) fell by 1.47% or $-0.23/share to $15.11. In the past year, the shares have traded as low as $10.84 and as high as $16.12. On average, 77492930 shares of XLF exchange hands on a given day and today's volume is recorded at 28714868. 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 $15.30 represents resistance and the 200-day moving average of $13.64 would be an area of support.
Shares of iShares Russell 2000 Index (IWM) fell by 1.62% or $-1.31/share to $79.31. In the past year, the shares have traded as low as $59.62 and as high as $84.97. On average, 51675080 shares of IWM exchange hands on a given day and today's volume is recorded at 22422080. 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 $81.44 represents resistance and the 200-day moving average of $74.96 would be an area of support.
