The following stocks gapped down significantly at the open on March 27: National Bank of Greece SA, Charming Shoppes Inc, Seanergy Maritime Holdings Corp, Total SA, and First Commonwealth Financial Corp. 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 National Bank of Greece SA (NBG) opened lower by -6.71% and are currently trading at $2.95. In the past year, the shares have traded as low as $1.64 and as high as $9.49. On average, 1373280 shares of NBG exchange hands on a given day and today's volume is recorded at 723770. 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 $3.21 area but be careful because the stock may face selling pressure at this level.
Shares of Charming Shoppes Inc (CHRS) opened lower by -6.69% and are currently trading at $5.49. In the past year, the shares have traded as low as $2.29 and as high as $6.08. On average, 1441160 shares of CHRS exchange hands on a given day and today's volume is recorded at 579655. 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 $5.42 area where the stock will likely see buying pressure.
Shares of Seanergy Maritime Holdings Corp (SHIP) opened lower by -6.55% and are currently trading at $3.07. In the past year, the shares have traded as low as $1.96 and as high as $9.90. On average, 36640 shares of SHIP exchange hands on a given day and today's volume is recorded at 43036. 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 $3.09 area but be careful because the stock may face selling pressure at this level.
Shares of Total SA (TOT) opened lower by -6.53% and are currently trading at $51.25. In the past year, the shares have traded as low as $39.35 and as high as $60.55. On average, 2667630 shares of TOT exchange hands on a given day and today's volume is recorded at 4647511. 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 $54.32 represents resistance and the 200-day moving average of $50.51 would be an area of support.
Shares of First Commonwealth Financial Corp (FCF) opened lower by -6.03% and are currently trading at $6.38. In the past year, the shares have traded as low as $3.42 and as high as $6.84. On average, 602140 shares of FCF exchange hands on a given day and today's volume is recorded at 53262. 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 $5.98 area where the stock will likely see buying pressure.
