The following stocks gapped up significantly at the open on March 26: Armstrong World Industries, Inc, Affymax, Inc, Gazit-Globe Ltd. Ordinary Share, Internet Initiative Japan Inc, and McEwen Mining Inc. Common Stock. 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 Armstrong World Industries, Inc (AWI) opened higher by 5.21% and are currently trading at $58.72. In the past year, the shares have traded as low as $32.47 and as high as $57.89. On average, 247890 shares of AWI exchange hands on a given day and today's volume is recorded at 68427. 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 $50.63 area where the stock will likely see buying pressure.
Shares of Affymax, Inc (AFFY) opened higher by 5.07% and are currently trading at $14.0. In the past year, the shares have traded as low as $3.93 and as high as $13.49. On average, 1156100 shares of AFFY exchange hands on a given day and today's volume is recorded at 505048. 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 $9.93 area where the stock will likely see buying pressure.
Shares of Gazit-Globe Ltd. Ordinary Share (GZT) opened higher by 5.0% and are currently trading at $10.54. In the past year, the shares have traded as low as $8.41 and as high as $10.76. On average, 57310 shares of GZT exchange hands on a given day and today's volume is recorded at 14717. 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 $10.04 area where the stock will likely see buying pressure.
Shares of Internet Initiative Japan Inc (IIJI) opened higher by 4.76% and are currently trading at $7.94. In the past year, the shares have traded as low as $6.67 and as high as $11.78. On average, 11830 shares of IIJI exchange hands on a given day and today's volume is recorded at 2681. 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 $9.28 represents resistance and the 50-day moving average of $7.85 would be an area of support.
Shares of McEwen Mining Inc. Common Stock (MUX) opened higher by 4.37% and are currently trading at $4.2. In the past year, the shares have traded as low as $2.93 and as high as $9.87. On average, 2844230 shares of MUX exchange hands on a given day and today's volume is recorded at 374147. 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 $5.03 area where the stock may encounter resistance.
