The following stocks gapped up significantly at the open on March 27: Wabash National Corp, Zhongpin, Inc, ISTA Pharmaceuticals Inc, Inergy Midstream LLC, and Focus Morningstar Health Care ETF. 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 Wabash National Corp (WNC) opened higher by 10.94% and are currently trading at $11.07. In the past year, the shares have traded as low as $4.22 and as high as $11.99. On average, 1112680 shares of WNC exchange hands on a given day and today's volume is recorded at 785521. 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 $9.83 area where the stock will likely see buying pressure.
Shares of Zhongpin, Inc (HOGS) opened higher by 9.55% and are currently trading at $10.09. In the past year, the shares have traded as low as $6.60 and as high as $17.31. On average, 387960 shares of HOGS exchange hands on a given day and today's volume is recorded at 88572. 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 $10.59 represents resistance and the 200-day moving average of $9.65 would be an area of support.
Shares of ISTA Pharmaceuticals Inc (ISTA) opened higher by 7.82% and are currently trading at $9.03. In the past year, the shares have traded as low as $2.88 and as high as $11.38. On average, 428490 shares of ISTA exchange hands on a given day and today's volume is recorded at 19055180. 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 $8.25 area where the stock will likely see buying pressure.
Shares of Inergy Midstream LLC (NRGM) opened higher by 5.95% and are currently trading at $21.7. In the past year, the shares have traded as low as $16.22 and as high as $22.67. On average, 157390 shares of NRGM exchange hands on a given day and today's volume is recorded at 2174. 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 $20.79 area where the stock will likely see buying pressure.
Shares of Focus Morningstar Health Care ETF (FHC) opened higher by 5.45% and are currently trading at $28.52. In the past year, the shares have traded as low as $22.39 and as high as $28.44. On average, 1210 shares of FHC exchange hands on a given day and today's volume is recorded at 6662. 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 $27.56 area where the stock will likely see buying pressure.
