The following stocks were detected to be trading among the most active on June 28: SPDR S&P 500, Bank of America Corporation, iShares Russell 2000 Index, JPMorgan Chase & Co, and Arena Pharmaceuticals, 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 SPDR S&P 500 (SPY) fell by 1.19% or $-1.58/share to $131.59. In the past year, the shares have traded as low as $105.74 and as high as $141.48. On average, 167998350 shares of SPY exchange hands on a given day and today's volume is recorded at 57404464. 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 $133.82 represents resistance and the 200-day moving average of $128.71 would be an area of support.
Shares of Bank of America Corporation (BAC) fell by 1.93% or $-0.15/share to $7.62. In the past year, the shares have traded as low as $4.91 and as high as $11.19. On average, 203336670 shares of BAC exchange hands on a given day and today's volume is recorded at 43723952. 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 $7.66 represents resistance and the 200-day moving average of $7.19 would be an area of support.
Shares of iShares Russell 2000 Index (IWM) fell by 1.28% or $-0.99/share to $76.45. In the past year, the shares have traded as low as $59.32 and as high as $84.54. On average, 54407410 shares of IWM exchange hands on a given day and today's volume is recorded at 22543464. 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 $77.41 represents resistance and the 200-day moving average of $75.56 would be an area of support.
Shares of JPMorgan Chase & Co. (JPM) fell by 3.64% or $-1.34/share to $35.44. In the past year, the shares have traded as low as $27.47 and as high as $46.19. On average, 45842840 shares of JPM exchange hands on a given day and today's volume is recorded at 22514218. 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 $36.06 area where the stock may encounter resistance.
Shares of Arena Pharmaceuticals, Inc. (ARNA) fell by 4.92% or $-0.56/share to $10.83. In the past year, the shares have traded as low as $1.23 and as high as $13.50. On average, 21676100 shares of ARNA exchange hands on a given day and today's volume is recorded at 22128110. 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 $5.76 area where the stock will likely see buying pressure.
