The following stocks gapped down significantly at the open on April 4: Sears Holdings Corporation, Alcatel-Lucent, S.A, Brightcove, Inc, Gold Fields Ltd, and Panasonic Corporation. 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 Sears Holdings Corporation (SHLD) opened lower by -5.2% and are currently trading at $65.97. In the past year, the shares have traded as low as $28.89 and as high as $87.66. On average, 2128490 shares of SHLD exchange hands on a given day and today's volume is recorded at 214228. 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 $62.45 area where the stock will likely see buying pressure.
Shares of Alcatel-Lucent, S.A (ALU) opened lower by -5.17% and are currently trading at $2.2. In the past year, the shares have traded as low as $1.39 and as high as $6.63. On average, 22412570 shares of ALU exchange hands on a given day and today's volume is recorded at 4873314. 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 $2.25 area but be careful because the stock may face selling pressure at this level.
Shares of Brightcove, Inc (BCOV) opened lower by -4.95% and are currently trading at $21.21. In the past year, the shares have traded as low as $14.00 and as high as $25.50. On average, 323580 shares of BCOV exchange hands on a given day and today's volume is recorded at 19125. 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 $18.25 area.
Shares of Gold Fields Ltd (GFI) opened lower by -4.92% and are currently trading at $13.13. In the past year, the shares have traded as low as $13.23 and as high as $18.17. On average, 3398440 shares of GFI exchange hands on a given day and today's volume is recorded at 843161. 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 $15.12 area but be careful because the stock may face selling pressure at this level.
Shares of Panasonic Corporation (PC) opened lower by -4.65% and are currently trading at $8.62. In the past year, the shares have traded as low as $7.77 and as high as $12.71. On average, 422360 shares of PC exchange hands on a given day and today's volume is recorded at 60984. 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 $8.80 area but be careful because the stock may face selling pressure at this level.
