The following stocks gapped up significantly at the open on March 26: Compagnie G, Lions Gate Entertainment Corp, Tesla Motors, Inc, Global Cash Access Holdings, Inc, and Lake Shore Gold Corp. 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 Compagnie G (CGV) opened higher by 4.36% and are currently trading at $31.21. In the past year, the shares have traded as low as $15.08 and as high as $38.09. On average, 71360 shares of CGV exchange hands on a given day and today's volume is recorded at 6707. 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 $28.88 area where the stock will likely see buying pressure.
Shares of Lions Gate Entertainment Corp (LGF) opened higher by 4.34% and are currently trading at $15.07. In the past year, the shares have traded as low as $5.76 and as high as $16.19. On average, 2187560 shares of LGF exchange hands on a given day and today's volume is recorded at 6095835. 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 $12.02 area where the stock will likely see buying pressure.
Shares of Tesla Motors, Inc (TSLA) opened higher by 4.18% and are currently trading at $35.27. In the past year, the shares have traded as low as $21.50 and as high as $36.58. On average, 1062790 shares of TSLA exchange hands on a given day and today's volume is recorded at 277378. 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 $31.99 area where the stock will likely see buying pressure.
Shares of Global Cash Access Holdings, Inc (GCA) opened higher by 4.07% and are currently trading at $6.89. In the past year, the shares have traded as low as $2.07 and as high as $6.92. On average, 548950 shares of GCA exchange hands on a given day and today's volume is recorded at 266086. 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 $5.75 area where the stock will likely see buying pressure.
Shares of Lake Shore Gold Corp (LSG) opened higher by 4.03% and are currently trading at $1.25. In the past year, the shares have traded as low as $1.07 and as high as $4.51. On average, 241320 shares of LSG exchange hands on a given day and today's volume is recorded at 80400. 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 $1.43 area but be careful because the stock may face selling pressure at this level.
