The following stocks were detected to be trading among the most active on June 6: Bank of America Corporation, SPDR S&P 500, Sprint Nextel Corp, Financial Select Sector SPDR, and Facebook, 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) traded higher by 5.35% or $0.38/share to $7.48. In the past year, the shares have traded as low as $4.91 and as high as $11.19. On average, 240377830 shares of BAC exchange hands on a given day and today's volume is recorded at 103853944. 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 $8.15 represents resistance and the 200-day moving average of $7.16 would be an area of support.
Shares of SPDR S&P 500 (SPY) traded higher by 1.43% or $1.85/share to $130.91. In the past year, the shares have traded as low as $106.28 and as high as $142.22. On average, 161099980 shares of SPY exchange hands on a given day and today's volume is recorded at 52150932. 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 $136.42 represents resistance and the 200-day moving average of $127.98 would be an area of support.
Shares of Sprint Nextel Corp. (S) traded higher by 2.77% or $0.07/share to $2.6. In the past year, the shares have traded as low as $2.10 and as high as $5.80. On average, 50826300 shares of S exchange hands on a given day and today's volume is recorded at 27695086. The shares are currently trading below the 200-day moving average but above the 50-day moving average. The stock may be range bound between these two levels where the 200-day moving average of $2.65 represents resistance and the 50-day moving average of $2.56 would be an area of support.
Shares of Financial Select Sector SPDR (XLF) traded higher by 1.84% or $0.25/share to $13.83. In the past year, the shares have traded as low as $10.85 and as high as $16.01. On average, 87386050 shares of XLF exchange hands on a given day and today's volume is recorded at 25449024. 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 $14.94 represents resistance and the 200-day moving average of $13.70 would be an area of support.
Shares of Facebook, Inc. (FB) traded higher by 1.04% or $0.27/share to $26.14. In the past year, the shares have traded as low as $25.75 and as high as $45.00. On average, 114251080 shares of FB exchange hands on a given day and today's volume is recorded at 22317872. The shares are currently trading below the 50-day and 200-day moving averages which indicates that the shares have been experiencing downward momentum. The stock may bounce back to test the 200-day moving average. Thus, you may want to pay close attention for a move up to the $30.61 area but be careful because the stock may face selling pressure at this level.
