The following stocks gapped down significantly at the open on March 27: B Communications Ltd, STMicroelectronics NV, Central European Distribution Corp, SciQuest, Inc, and Astec Industries, Inc. 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 B Communications Ltd (BCOM) opened lower by -5.25% and are currently trading at $10.11. In the past year, the shares have traded as low as $9.30 and as high as $34.99. On average, 1560 shares of BCOM exchange hands on a given day and today's volume is recorded at 250. 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 $11.38 area but be careful because the stock may face selling pressure at this level.
Shares of STMicroelectronics NV (STM) opened lower by -4.31% and are currently trading at $8.23. In the past year, the shares have traded as low as $5.26 and as high as $12.66. On average, 1902500 shares of STM exchange hands on a given day and today's volume is recorded at 247429. 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 $7.23 area where the stock will likely see buying pressure.
Shares of Central European Distribution Corp (CEDC) opened lower by -4.04% and are currently trading at $5.3. In the past year, the shares have traded as low as $2.75 and as high as $13.14. On average, 1350020 shares of CEDC exchange hands on a given day and today's volume is recorded at 73996. 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 $6.38 represents resistance and the 50-day moving average of $4.93 would be an area of support.
Shares of SciQuest, Inc (SQI) opened lower by -3.99% and are currently trading at $14.62. In the past year, the shares have traded as low as $11.35 and as high as $18.45. On average, 81730 shares of SQI exchange hands on a given day and today's volume is recorded at 62194. 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 $14.63 area but be careful because the stock may face selling pressure at this level.
Shares of Astec Industries, Inc (ASTE) opened lower by -3.7% and are currently trading at $38.17. In the past year, the shares have traded as low as $26.53 and as high as $40.68. On average, 112320 shares of ASTE exchange hands on a given day and today's volume is recorded at 4698. 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 $36.55 area where the stock will likely see buying pressure.
