The following stocks were detected to be trading among the most active on June 11: Bank of America Corporation, SPDR S&P 500, Financial Select Sector SPDR, Sprint Nextel Corp, and Citigroup, 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 Bank of America Corporation (BAC) fell by 0.4% or $-0.03/share to $7.53. In the past year, the shares have traded as low as $4.91 and as high as $11.19. On average, 242196270 shares of BAC exchange hands on a given day and today's volume is recorded at 69306544. 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 $8.02 represents resistance and the 200-day moving average of $7.17 would be an area of support.
Shares of SPDR S&P 500 (SPY) traded higher by 0.05% or $0.07/share to $133.17. In the past year, the shares have traded as low as $106.28 and as high as $142.21. On average, 161887060 shares of SPY exchange hands on a given day and today's volume is recorded at 47419580. 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 $135.89 represents resistance and the 200-day moving average of $128.28 would be an area of support.
Shares of Financial Select Sector SPDR (XLF) fell by 0.11% or $-0.02/share to $14.13. In the past year, the shares have traded as low as $10.85 and as high as $16.01. On average, 87722270 shares of XLF exchange hands on a given day and today's volume is recorded at 28268380. 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 $14.83 represents resistance and the 200-day moving average of $13.74 would be an area of support.
Shares of Sprint Nextel Corp. (S) fell by 2.01% or $-0.06/share to $2.92. In the past year, the shares have traded as low as $2.10 and as high as $5.75. On average, 51680670 shares of S exchange hands on a given day and today's volume is recorded at 24125696. The shares are currently trading above the 200-day moving average which indicates that the shares have been subject to upward momentum. The 200 DMA is above the 50 DMA which indicates that the stock has likely taken a dip in the shorter term. The stock may eventually drop to test the 200-day moving average where buyers may be lurking near the $2.64 area.
Shares of Citigroup, Inc. (C) fell by 0.43% or $-0.12/share to $27.65. In the past year, the shares have traded as low as $21.38 and as high as $43.01. On average, 43018430 shares of C exchange hands on a given day and today's volume is recorded at 17538128. 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 $30.07 area where the stock may encounter resistance.
