The following stocks gapped up significantly at the open on March 28: Alkermes plc, Tyco International Ltd, Advantest Corp, RDA Microelectronics, Inc, and Nokia 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 Alkermes plc (ALKS) opened higher by 4.0% and are currently trading at $18.0. In the past year, the shares have traded as low as $12.07 and as high as $20.00. On average, 1071000 shares of ALKS exchange hands on a given day and today's volume is recorded at 501387. 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 $17.84 area where the stock will likely see buying pressure.
Shares of Tyco International Ltd (TYC) opened higher by 3.96% and are currently trading at $55.47. In the past year, the shares have traded as low as $37.00 and as high as $53.75. On average, 2664740 shares of TYC exchange hands on a given day and today's volume is recorded at 1922340. 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 $51.08 area where the stock will likely see buying pressure.
Shares of Advantest Corp (ATE) opened higher by 3.7% and are currently trading at $15.75. In the past year, the shares have traded as low as $8.82 and as high as $20.14. On average, 16610 shares of ATE exchange hands on a given day and today's volume is recorded at 3749. 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 $12.96 area.
Shares of RDA Microelectronics, Inc (RDA) opened higher by 3.6% and are currently trading at $12.82. In the past year, the shares have traded as low as $7.06 and as high as $15.43. On average, 51980 shares of RDA exchange hands on a given day and today's volume is recorded at 29567. 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 $11.83 area where the stock will likely see buying pressure.
Shares of Nokia Corporation (NOK) opened higher by 3.17% and are currently trading at $5.51. In the past year, the shares have traded as low as $4.46 and as high as $8.88. On average, 31756350 shares of NOK exchange hands on a given day and today's volume is recorded at 6169541. 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 $5.69 represents resistance and the 50-day moving average of $5.28 would be an area of support.
