The following stocks gapped up significantly at the open on April 4: Viasystems Group Inc, G&K Services Inc, Mitcham Industries Inc, MDC Partners Inc, and Direxion Daily Small Cap Bear 3X Shares. 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 Viasystems Group Inc (VIAS) opened higher by 11.94% and are currently trading at $20.5. In the past year, the shares have traded as low as $13.75 and as high as $27.20. On average, 11520 shares of VIAS exchange hands on a given day and today's volume is recorded at 23265. 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 $18.86 area.
Shares of G&K Services Inc (GKSR) opened higher by 11.15% and are currently trading at $36.37. In the past year, the shares have traded as low as $24.03 and as high as $36.06. On average, 94580 shares of GKSR exchange hands on a given day and today's volume is recorded at 18510. 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 $33.11 area where the stock will likely see buying pressure.
Shares of Mitcham Industries Inc (MIND) opened higher by 7.73% and are currently trading at $25.59. In the past year, the shares have traded as low as $9.52 and as high as $26.76. On average, 233870 shares of MIND exchange hands on a given day and today's volume is recorded at 327169. 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 $22.80 area where the stock will likely see buying pressure.
Shares of MDC Partners Inc (MDCA) opened higher by 4.97% and are currently trading at $11.26. In the past year, the shares have traded as low as $10.37 and as high as $20.40. On average, 131960 shares of MDCA exchange hands on a given day and today's volume is recorded at 27647. 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 $12.81 area but be careful because the stock may face selling pressure at this level.
Shares of Direxion Daily Small Cap Bear 3X Shares (TZA) opened higher by 3.34% and are currently trading at $18.01. In the past year, the shares have traded as low as $16.60 and as high as $68.32. On average, 23139030 shares of TZA exchange hands on a given day and today's volume is recorded at 2848148. 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 $18.90 area but be careful because the stock may face selling pressure at this level.
