The following stocks gapped up significantly at the open on March 22: ProShares UltraShort DJ-UBS Crude Oil, magicJack VocalTec Ltd, ProShares UltraShort DJ-UBS Commodity, Direxion Daily Small Cap Bear 3X Shares, and Dollar General Corporation. 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 ProShares UltraShort DJ-UBS Crude Oil (SCO) opened higher by 3.74% and are currently trading at $34.11. In the past year, the shares have traded as low as $30.74 and as high as $71.36. On average, 1519270 shares of SCO exchange hands on a given day and today's volume is recorded at 239767. 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 $35.59 area but be careful because the stock may face selling pressure at this level.
Shares of magicJack VocalTec Ltd (CALL) opened higher by 3.51% and are currently trading at $26.57. In the past year, the shares have traded as low as $9.50 and as high as $28.22. On average, 327410 shares of CALL exchange hands on a given day and today's volume is recorded at 66209. 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 $19.39 area where the stock will likely see buying pressure.
Shares of ProShares UltraShort DJ-UBS Commodity (CMD) opened higher by 3.0% and are currently trading at $54.99. In the past year, the shares have traded as low as $39.32 and as high as $61.65. On average, 3080 shares of CMD exchange hands on a given day and today's volume is recorded at 254. 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 $52.99 area where the stock will likely see buying pressure.
Shares of Direxion Daily Small Cap Bear 3X Shares (TZA) opened higher by 2.96% and are currently trading at $18.31. In the past year, the shares have traded as low as $16.98 and as high as $68.32. On average, 22740580 shares of TZA exchange hands on a given day and today's volume is recorded at 4506832. 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 $19.91 area but be careful because the stock may face selling pressure at this level.
Shares of Dollar General Corporation (DG) opened higher by 2.82% and are currently trading at $46.2. In the past year, the shares have traded as low as $29.84 and as high as $45.78. On average, 1591680 shares of DG exchange hands on a given day and today's volume is recorded at 408354. 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 $42.47 area where the stock will likely see buying pressure.
