The following stocks were detected to be trading among the most active on May 10: Cisco Systems, Inc, Bank of America Corporation, SPDR S&P 500, SPDR Barclays Capital High Yield Bond, and Oracle Corporation. 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 Cisco Systems, Inc. (CSCO) fell by 8.63% or $-1.62/share to $17.16. In the past year, the shares have traded as low as $13.16 and as high as $21.22. On average, 39300880 shares of CSCO exchange hands on a given day and today's volume is recorded at 55970708. 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 $18.14 area where the stock may encounter resistance.
Shares of Bank of America Corporation (BAC) traded higher by 2.06% or $0.16/share to $7.89. In the past year, the shares have traded as low as $4.91 and as high as $12.37. On average, 258482800 shares of BAC exchange hands on a given day and today's volume is recorded at 31059820. 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 $8.72 represents resistance and the 200-day moving average of $7.27 would be an area of support.
Shares of SPDR S&P 500 (SPY) traded higher by 0.57% or $0.77/share to $136.51. In the past year, the shares have traded as low as $106.28 and as high as $142.21. On average, 147995790 shares of SPY exchange hands on a given day and today's volume is recorded at 29453272. 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 $126.92 would be an area of support.
Shares of SPDR Barclays Capital High Yield Bond (JNK) remained unchanged at $39.47. In the past year, the shares have traded as low as $32.46 and as high as $39.71. On average, 4814750 shares of JNK exchange hands on a given day and today's volume is recorded at 20094856. 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 $39.13 area where the stock will likely see buying pressure.
Shares of Oracle Corporation (ORCL) fell by 2.34% or $-0.65/share to $27.13. In the past year, the shares have traded as low as $24.56 and as high as $35.64. On average, 30833480 shares of ORCL exchange hands on a given day and today's volume is recorded at 12967729. 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 $29.07 area where the stock may encounter resistance.
