The following stocks gapped up significantly at the open on November 15: Global Education & Technology Group Limited, Pendrell Corporation, GSI Group Inc, Western Refining Inc, and Swisher Hygiene Inc. These stocks may be up because of positive overnight news, overall market bullishness, or increased speculation. Oftentimes stocks will close the gap, meaning they will retrace to the last day's high. Thus, gap ups are often good selling opportunities but in some cases, watch for the stock to continue higher.
Shares of Global Education & Technology Group Limited (GEDU) opened higher by 4.5% and are currently trading at $3.49. In the past year, the shares have traded as low as $2.96 and as high as $10.55. On average, 30600 shares of GEDU exchange hands on a given day and today's volume is recorded at 4600. 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 $3.98 area but be careful because the stock may face selling pressure at this level.
Shares of Pendrell Corporation (PCO) opened higher by 4.05% and are currently trading at $2.55. In the past year, the shares have traded as low as $1.35 and as high as $3.26. On average, 536600 shares of PCO exchange hands on a given day and today's volume is recorded at 8453. 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 $2.52 area.
Shares of GSI Group Inc (GSIG) opened higher by 4.02% and are currently trading at $9.26. In the past year, the shares have traded as low as $7.03 and as high as $14.00. On average, 127290 shares of GSIG exchange hands on a given day and today's volume is recorded at 2182. 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 $10.73 represents resistance and the 50-day moving average of $8.84 would be an area of support.
Shares of Western Refining Inc (WNR) opened higher by 3.86% and are currently trading at $15.92. In the past year, the shares have traded as low as $8.00 and as high as $21.75. On average, 3060150 shares of WNR exchange hands on a given day and today's volume is recorded at 611559. 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 $16.64 represents resistance and the 50-day moving average of $15.65 would be an area of support.
Shares of Swisher Hygiene Inc (SWSH) opened higher by 3.76% and are currently trading at $3.95. In the past year, the shares have traded as low as $3.31 and as high as $11.43. On average, 615520 shares of SWSH exchange hands on a given day and today's volume is recorded at 114409. 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 $4.41 area but be careful because the stock may face selling pressure at this level.
