The following stocks gapped down significantly at the open on March 22: Randgold Resources Limited, Costamare Inc, Domino's Pizza, Inc, CLARCOR Inc, and Nationstar Mortgage Holdings In. 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 Randgold Resources Limited (GOLD) opened lower by -11.02% and are currently trading at $93.65. In the past year, the shares have traded as low as $72.73 and as high as $120.73. On average, 540050 shares of GOLD exchange hands on a given day and today's volume is recorded at 630848. 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 $102.68 area where the stock may encounter resistance.
Shares of Costamare Inc (CMRE) opened lower by -9.62% and are currently trading at $13.99. In the past year, the shares have traded as low as $10.51 and as high as $17.25. On average, 61730 shares of CMRE exchange hands on a given day and today's volume is recorded at 974970. 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 $14.00 area where the stock may encounter resistance.
Shares of Domino's Pizza, Inc (DPZ) opened lower by -7.68% and are currently trading at $37.06. In the past year, the shares have traded as low as $17.69 and as high as $42.21. On average, 844080 shares of DPZ exchange hands on a given day and today's volume is recorded at 290266. 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 $35.15 area where the stock will likely see buying pressure.
Shares of CLARCOR Inc (CLC) opened lower by -7.41% and are currently trading at $46.87. In the past year, the shares have traded as low as $38.94 and as high as $54.23. On average, 223550 shares of CLC exchange hands on a given day and today's volume is recorded at 95224. 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 $46.99 area where the stock may encounter resistance.
Shares of Nationstar Mortgage Holdings In (NSM) opened lower by -6.87% and are currently trading at $13.8. In the past year, the shares have traded as low as $13.38 and as high as $14.94. On average, 1687920 shares of NSM exchange hands on a given day and today's volume is recorded at 47751. 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 $14.35 area but be careful because the stock may face selling pressure at this level.
