The following stocks gapped down significantly at the open on March 28: B Communications Ltd, Chimera Investment Corporation, Golden Minerals Company, Resource Capital Corp, and NYSE Euronext, Inc. These stocks may be down because of negative overnight news, overall market bearishness, or shorters pounding the stock down in hopes to cover. Oftentimes stocks will close the gap, meaning they will retrace to the last day's low. Thus, gap downs are often good buying opportunities.
Shares of B Communications Ltd (BCOM) opened lower by -3.96% and are currently trading at $9.7. In the past year, the shares have traded as low as $9.30 and as high as $35.01. On average, 1510 shares of BCOM exchange hands on a given day and today's volume is recorded at 150. 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 $11.31 area but be careful because the stock may face selling pressure at this level.
Shares of Chimera Investment Corporation (CIM) opened lower by -3.68% and are currently trading at $2.88. In the past year, the shares have traded as low as $2.28 and as high as $3.60. On average, 11064940 shares of CIM exchange hands on a given day and today's volume is recorded at 968094. 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 $2.98 represents resistance and the 200-day moving average of $2.82 would be an area of support.
Shares of Golden Minerals Company (AUMN) opened lower by -3.59% and are currently trading at $8.41. In the past year, the shares have traded as low as $5.25 and as high as $25.95. On average, 274530 shares of AUMN exchange hands on a given day and today's volume is recorded at 10796. 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 $8.62 area but be careful because the stock may face selling pressure at this level.
Shares of Resource Capital Corp (RSO) opened lower by -3.5% and are currently trading at $5.53. In the past year, the shares have traded as low as $3.90 and as high as $6.02. On average, 762720 shares of RSO exchange hands on a given day and today's volume is recorded at 185255. 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 $5.76 represents resistance and the 200-day moving average of $5.37 would be an area of support.
Shares of NYSE Euronext, Inc (NYX) opened lower by -3.24% and are currently trading at $29.48. In the past year, the shares have traded as low as $21.34 and as high as $39.90. On average, 2984360 shares of NYX exchange hands on a given day and today's volume is recorded at 383562. 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 $28.59 area where the stock will likely see buying pressure.
