The following stocks gapped up significantly at the open on March 28: PAREXEL International Corporation, Overseas Shipholding Group Inc, UniFirst Corp, Guangshen Railway Co. Ltd, and Medco Health Solutions, 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 PAREXEL International Corporation (PRXL) opened higher by 5.47% and are currently trading at $28.09. In the past year, the shares have traded as low as $15.26 and as high as $27.91. On average, 431100 shares of PRXL exchange hands on a given day and today's volume is recorded at 74518. 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 $24.42 area where the stock will likely see buying pressure.
Shares of Overseas Shipholding Group Inc (OSG) opened higher by 5.09% and are currently trading at $12.44. In the past year, the shares have traded as low as $7.86 and as high as $31.22. On average, 940290 shares of OSG exchange hands on a given day and today's volume is recorded at 143322. 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 $15.10 represents resistance and the 50-day moving average of $11.13 would be an area of support.
Shares of UniFirst Corp (UNF) opened higher by 4.41% and are currently trading at $62.01. In the past year, the shares have traded as low as $42.78 and as high as $62.71. On average, 58710 shares of UNF exchange hands on a given day and today's volume is recorded at 36041. 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 $60.60 area where the stock will likely see buying pressure.
Shares of Guangshen Railway Co. Ltd (GSH) opened higher by 4.35% and are currently trading at $19.59. In the past year, the shares have traded as low as $13.82 and as high as $21.67. On average, 23130 shares of GSH exchange hands on a given day and today's volume is recorded at 8027. 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 $18.84 area where the stock will likely see buying pressure.
Shares of Medco Health Solutions, Inc (MHS) opened higher by 4.13% and are currently trading at $71.99. In the past year, the shares have traded as low as $44.60 and as high as $70.97. On average, 5659320 shares of MHS exchange hands on a given day and today's volume is recorded at 9379394. 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 $64.97 area where the stock will likely see buying pressure.
