The following stocks were detected to be trading among the most active on June 5: Bank of America Corporation, SPDR S&P 500, Financial Select Sector SPDR, iShares MSCI Emerging Markets Index, and JPMorgan Chase & Co. 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) traded higher by 2.75% or $0.19/share to $7.09. In the past year, the shares have traded as low as $4.91 and as high as $11.19. On average, 241145750 shares of BAC exchange hands on a given day and today's volume is recorded at 67359576. 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 $7.16 area where the stock may encounter resistance.
Shares of SPDR S&P 500 (SPY) traded higher by 0.26% or $0.33/share to $128.43. In the past year, the shares have traded as low as $106.28 and as high as $142.21. On average, 160739100 shares of SPY exchange hands on a given day and today's volume is recorded at 51453088. 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 $136.63 represents resistance and the 200-day moving average of $127.91 would be an area of support.
Shares of Financial Select Sector SPDR (XLF) traded higher by 1.2% or $0.16/share to $13.52. In the past year, the shares have traded as low as $10.85 and as high as $16.01. On average, 86621610 shares of XLF exchange hands on a given day and today's volume is recorded at 39486228. 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 $13.70 area where the stock may encounter resistance.
Shares of iShares MSCI Emerging Markets Index (EEM) fell by 0.05% or $-0.02/share to $36.83. In the past year, the shares have traded as low as $33.10 and as high as $48.17. On average, 54897050 shares of EEM exchange hands on a given day and today's volume is recorded at 25961648. 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 $40.31 area where the stock may encounter resistance.
Shares of JPMorgan Chase & Co. (JPM) traded higher by 3.15% or $0.98/share to $31.98. In the past year, the shares have traded as low as $27.47 and as high as $46.19. On average, 43185000 shares of JPM exchange hands on a given day and today's volume is recorded at 19474516. 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 $36.03 area where the stock may encounter resistance.
