The following stocks gapped down significantly at the open on April 5: Constellation Brands Inc, A. Schulman, Inc, SunCoke Energy Inc, Alcatel-Lucent, S.A, and AAR 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 Constellation Brands Inc (STZ) opened lower by -8.22% and are currently trading at $21.93. In the past year, the shares have traded as low as $16.42 and as high as $24.87. On average, 1549970 shares of STZ exchange hands on a given day and today's volume is recorded at 1305643. 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 $22.28 represents resistance and the 200-day moving average of $20.41 would be an area of support.
Shares of A. Schulman, Inc (SHLM) opened lower by -7.4% and are currently trading at $24.73. In the past year, the shares have traded as low as $15.89 and as high as $28.00. On average, 182050 shares of SHLM exchange hands on a given day and today's volume is recorded at 120550. 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 $26.18 represents resistance and the 200-day moving average of $21.77 would be an area of support.
Shares of SunCoke Energy Inc (SXC) opened lower by -6.43% and are currently trading at $14.1. In the past year, the shares have traded as low as $9.20 and as high as $18.00. On average, 1475800 shares of SXC exchange hands on a given day and today's volume is recorded at 9008. 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 $14.32 represents resistance and the 200-day moving average of $13.03 would be an area of support.
Shares of Alcatel-Lucent, S.A (ALU) opened lower by -4.57% and are currently trading at $2.14. In the past year, the shares have traded as low as $1.39 and as high as $6.63. On average, 22759600 shares of ALU exchange hands on a given day and today's volume is recorded at 4823867. 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 $2.26 area but be careful because the stock may face selling pressure at this level.
Shares of AAR Corp (AIR) opened lower by -4.24% and are currently trading at $17.2. In the past year, the shares have traded as low as $14.84 and as high as $31.41. On average, 253240 shares of AIR exchange hands on a given day and today's volume is recorded at 62059. 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 $21.39 area but be careful because the stock may face selling pressure at this level.
