1. Draw circle using Oval tool with red color filled in it. Make sure that stroke (outline) is set to none. Convert the circle to symbol by selecting it with selection tool and pressing F8. Keep the circle at top left corner of the stage.
2. Add keyframe at 50 in timeline using F6 and shift a circle to the bottom and slightly towards the right. Now select the circle again with the selection tool and locate the color effect box in the properties panel. In the style, select Tint. Change the color to green.
3. Add keyframe at 100. Move the circle again to the top but this time more towards the right. This time change the tint to orange.
4. Repeat the sequence so as to make up down movement of the circle like bouncing ball. Change the color using Tint option at each interval. And create classic tween between each interval. Keep each interval of 50 frames. This long interval will slow down the animation.
5. The timeline will look like this. And the keyframes will reach till 250 for this animation.
6. Export movie using File
> Export > Export Movie