The following stocks gapped down significantly at the open on April 4: Assured Guaranty Ltd, Allot Communications Ltd, Aixtron SE, Arcelor Mittal, and Compagnie G. 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 Assured Guaranty Ltd (AGO) opened lower by -4.56% and are currently trading at $15.66. In the past year, the shares have traded as low as $9.11 and as high as $19.04. On average, 2115500 shares of AGO exchange hands on a given day and today's volume is recorded at 172678. 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 $16.96 represents resistance and the 200-day moving average of $13.84 would be an area of support.
Shares of Allot Communications Ltd (ALLT) opened lower by -4.5% and are currently trading at $22.78. In the past year, the shares have traded as low as $9.38 and as high as $24.02. On average, 388830 shares of ALLT exchange hands on a given day and today's volume is recorded at 148303. 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 $18.69 area where the stock will likely see buying pressure.
Shares of Aixtron SE (AIXG) opened lower by -4.5% and are currently trading at $16.6. In the past year, the shares have traded as low as $11.18 and as high as $43.90. On average, 245830 shares of AIXG exchange hands on a given day and today's volume is recorded at 29880. 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 $18.32 represents resistance and the 50-day moving average of $16.25 would be an area of support.
Shares of Arcelor Mittal (MT) opened lower by -4.47% and are currently trading at $17.91. In the past year, the shares have traded as low as $14.48 and as high as $36.41. On average, 6301810 shares of MT exchange hands on a given day and today's volume is recorded at 1871812. 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 $20.72 area but be careful because the stock may face selling pressure at this level.
Shares of Compagnie G (CGV) opened lower by -4.45% and are currently trading at $28.1. In the past year, the shares have traded as low as $15.08 and as high as $38.09. On average, 66130 shares of CGV exchange hands on a given day and today's volume is recorded at 9468. 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 $29.40 represents resistance and the 200-day moving average of $25.98 would be an area of support.
