The following stocks gapped down significantly at the open on April 4: Grupo Prisa SA, SanDisk Corp, Tesla Motors, Inc, National Bank of Greece SA, and WebMD Health Corp. 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 Grupo Prisa SA (PRIS) opened lower by -13.33% and are currently trading at $2.7. In the past year, the shares have traded as low as $2.76 and as high as $13.11. On average, 26320 shares of PRIS exchange hands on a given day and today's volume is recorded at 22620. 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 $3.92 area but be careful because the stock may face selling pressure at this level.
Shares of SanDisk Corp (SNDK) opened lower by -8.59% and are currently trading at $45.65. In the past year, the shares have traded as low as $32.24 and as high as $53.46. On average, 5455070 shares of SNDK exchange hands on a given day and today's volume is recorded at 7232386. 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 $48.85 represents resistance and the 200-day moving average of $45.61 would be an area of support.
Shares of Tesla Motors, Inc (TSLA) opened lower by -7.13% and are currently trading at $35.11. In the past year, the shares have traded as low as $21.50 and as high as $39.95. On average, 1145490 shares of TSLA exchange hands on a given day and today's volume is recorded at 874237. 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 $33.55 area where the stock will likely see buying pressure.
Shares of National Bank of Greece SA (NBG) opened lower by -6.36% and are currently trading at $2.19. In the past year, the shares have traded as low as $1.64 and as high as $9.40. On average, 1447370 shares of NBG exchange hands on a given day and today's volume is recorded at 358467. 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 $3.26 area but be careful because the stock may face selling pressure at this level.
Shares of WebMD Health Corp (WBMD) opened lower by -5.41% and are currently trading at $24.16. In the past year, the shares have traded as low as $24.51 and as high as $58.56. On average, 1003960 shares of WBMD exchange hands on a given day and today's volume is recorded at 412320. 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 $26.26 area but be careful because the stock may face selling pressure at this level.
