The following stocks were detected to be trading among the most active on August 6: Knight Capital Group, Inc, Bank of America Corporation, SPDR S&P 500, Best Buy Co. Inc, 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 Knight Capital Group, Inc. (KCG) fell by 21.11% or $-0.85/share to $3.19. In the past year, the shares have traded as low as $2.27 and as high as $13.98. On average, 3255410 shares of KCG exchange hands on a given day and today's volume is recorded at 69116728. 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 $11.21 area but be careful because the stock may face selling pressure at this level.
Shares of Bank of America Corporation (BAC) traded higher by 2.29% or $0.17/share to $7.6. In the past year, the shares have traded as low as $4.91 and as high as $10.09. On average, 171402720 shares of BAC exchange hands on a given day and today's volume is recorded at 61470016. 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 $7.51 area where the stock will likely see buying pressure.
Shares of SPDR S&P 500 (SPY) traded higher by 0.5% or $0.70/share to $140.04. In the past year, the shares have traded as low as $105.74 and as high as $141.48. On average, 165228400 shares of SPY exchange hands on a given day and today's volume is recorded at 39203432. 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 $134.10 area where the stock will likely see buying pressure.
Shares of Best Buy Co. Inc. (BBY) traded higher by 11.0% or $1.94/share to $19.58. In the past year, the shares have traded as low as $16.97 and as high as $27.90. On average, 9189510 shares of BBY exchange hands on a given day and today's volume is recorded at 35808488. 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 $22.83 represents resistance and the 50-day moving average of $19.30 would be an area of support.
Shares of SIRIUS XM Radio Inc. (SIRI) traded higher by 2.55% or $0.05/share to $2.21. In the past year, the shares have traded as low as $1.27 and as high as $2.40. On average, 48206100 shares of SIRI exchange hands on a given day and today's volume is recorded at 33457466. 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 $2.01 area.
