The following stocks were detected to be trading among the most active on June 4: SPDR S&P 500, Bank of America Corporation, PowerShares QQQ, Financial Select Sector SPDR, and iShares MSCI Emerging Markets Index. 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 0.27% or $-0.35/share to $127.82. In the past year, the shares have traded as low as $106.29 and as high as $142.21. On average, 159459670 shares of SPY exchange hands on a given day and today's volume is recorded at 69315688. 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 $127.85 area where the stock may encounter resistance.
Shares of Bank of America Corporation (BAC) fell by 0.72% or $-0.05/share to $6.97. In the past year, the shares have traded as low as $4.91 and as high as $11.38. On average, 240841790 shares of BAC exchange hands on a given day and today's volume is recorded at 60322208. 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 PowerShares QQQ (QQQ) fell by 0.1% or $-0.06/share to $60.35. In the past year, the shares have traded as low as $49.56 and as high as $68.55. On average, 53599180 shares of QQQ exchange hands on a given day and today's volume is recorded at 38969336. 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 $65.29 represents resistance and the 200-day moving average of $59.60 would be an area of support.
Shares of Financial Select Sector SPDR (XLF) fell by 0.53% or $-0.07/share to $13.42. In the past year, the shares have traded as low as $10.85 and as high as $16.01. On average, 86136980 shares of XLF exchange hands on a given day and today's volume is recorded at 25688558. 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) traded higher by 0.27% or $0.10/share to $36.79. In the past year, the shares have traded as low as $33.11 and as high as $48.17. On average, 54510260 shares of EEM exchange hands on a given day and today's volume is recorded at 23572318. 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 $40.33 area where the stock may encounter resistance.
