The following stocks gapped down significantly at the open on March 28: Annaly Capital Management, Inc, Aixtron SE, Lake Shore Gold Corp, Capstead Mortgage Corp, and National Interstate Corporation. 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 Annaly Capital Management, Inc (NLY) opened lower by -3.2% and are currently trading at $15.66. In the past year, the shares have traded as low as $13.10 and as high as $17.33. On average, 12971330 shares of NLY exchange hands on a given day and today's volume is recorded at 2390607. The shares are currently trading below the 200-day moving average which indicates that the shares have been suffering from downward momentum lately. The stock may bounce higher to test the 200-day moving average, so look for a move up to the $16.28 area where the stock may encounter resistance.
Shares of Aixtron SE (AIXG) opened lower by -3.19% and are currently trading at $17.6. In the past year, the shares have traded as low as $11.18 and as high as $43.90. On average, 246800 shares of AIXG exchange hands on a given day and today's volume is recorded at 25554. 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 $18.80 represents resistance and the 50-day moving average of $16.07 would be an area of support.
Shares of Lake Shore Gold Corp (LSG) opened lower by -3.15% and are currently trading at $1.23. In the past year, the shares have traded as low as $1.07 and as high as $4.51. On average, 246110 shares of LSG exchange hands on a given day and today's volume is recorded at 17250. 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.
Shares of Capstead Mortgage Corp (CMO) opened lower by -3.13% and are currently trading at $13.0. In the past year, the shares have traded as low as $9.67 and as high as $13.62. On average, 804710 shares of CMO exchange hands on a given day and today's volume is recorded at 154532. The shares are currently trading below the 50-day moving average but above the 200-day moving average. The stock may be range bound between these two levels where the 50-day moving average of $13.27 represents resistance and the 200-day moving average of $12.31 would be an area of support.
Shares of National Interstate Corporation (NATL) opened lower by -3.1% and are currently trading at $25.32. In the past year, the shares have traded as low as $19.20 and as high as $28.03. On average, 12930 shares of NATL exchange hands on a given day and today's volume is recorded at 2303. 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 $25.15 area where the stock will likely see buying pressure.
