The following stocks gapped up significantly at the open on March 22: Education Management Corporation, Shoe Carnival Inc, Sturm, Ruger & Co. Inc, Smith & Wesson Holding Corporation, and OpenTable, 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 Education Management Corporation (EDMC) opened higher by 15.9% and are currently trading at $16.96. In the past year, the shares have traded as low as $13.45 and as high as $29.90. On average, 239580 shares of EDMC exchange hands on a given day and today's volume is recorded at 29642. 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 $20.54 area but be careful because the stock may face selling pressure at this level.
Shares of Shoe Carnival Inc (SCVL) opened higher by 10.34% and are currently trading at $29.6. In the past year, the shares have traded as low as $19.19 and as high as $34.05. On average, 67320 shares of SCVL exchange hands on a given day and today's volume is recorded at 61291. The shares are currently trading above the 200-day moving average which indicates that the shares have been subject to upward momentum. The 200 DMA is above the 50 DMA which indicates that the stock has likely taken a dip in the shorter term. The stock may eventually drop to test the 200-day moving average where buyers may be lurking near the $26.32 area.
Shares of Sturm, Ruger & Co. Inc (RGR) opened higher by 8.82% and are currently trading at $45.28. In the past year, the shares have traded as low as $18.37 and as high as $46.44. On average, 240130 shares of RGR exchange hands on a given day and today's volume is recorded at 140901. 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 $41.32 area where the stock will likely see buying pressure.
Shares of Smith & Wesson Holding Corporation (SWHC) opened higher by 3.77% and are currently trading at $7.47. In the past year, the shares have traded as low as $2.29 and as high as $7.09. On average, 931930 shares of SWHC exchange hands on a given day and today's volume is recorded at 710832. 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 $5.45 area where the stock will likely see buying pressure.
Shares of OpenTable, Inc (OPEN) opened higher by 3.75% and are currently trading at $42.3. In the past year, the shares have traded as low as $31.54 and as high as $118.65. On average, 1179130 shares of OPEN exchange hands on a given day and today's volume is recorded at 224608. 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 $46.01 area but be careful because the stock may face selling pressure at this level.
