The following stocks were detected to be trading among the most active on June 7: Bank of America Corporation, SPDR S&P 500, Financial Select Sector SPDR, iShares MSCI Emerging Markets Index, and SIRIUS XM Radio 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 0.07% or $-0.01/share to $7.64. In the past year, the shares have traded as low as $4.91 and as high as $11.20. On average, 241845360 shares of BAC exchange hands on a given day and today's volume is recorded at 108768592. 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 $8.11 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 0.7% or $0.92/share to $132.9. In the past year, the shares have traded as low as $106.29 and as high as $142.22. On average, 160822400 shares of SPY exchange hands on a given day and today's volume is recorded at 60913752. 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 $136.22 represents resistance and the 200-day moving average of $128.08 would be an area of support.
Shares of Financial Select Sector SPDR (XLF) traded higher by 0.72% or $0.10/share to $14.08. In the past year, the shares have traded as low as $10.85 and as high as $16.01. On average, 87446760 shares of XLF exchange hands on a given day and today's volume is recorded at 31603242. 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 $14.90 represents resistance and the 200-day moving average of $13.71 would be an area of support.
Shares of iShares MSCI Emerging Markets Index (EEM) traded higher by 1.6% or $0.61/share to $38.64. In the past year, the shares have traded as low as $33.10 and as high as $48.17. On average, 54264130 shares of EEM exchange hands on a given day and today's volume is recorded at 20955984. 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 $40.29 area where the stock may encounter resistance.
Shares of SIRIUS XM Radio Inc. (SIRI) remained unchanged at $1.92. In the past year, the shares have traded as low as $1.27 and as high as $2.41. On average, 55441680 shares of SIRI exchange hands on a given day and today's volume is recorded at 17228404. 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 $1.96 area where the stock may encounter resistance.
