The following stocks gapped down significantly at the open on April 5: InterOil Corporation, Buckle Inc, Cell Therapeutics, Inc, V.F. Corporation, and Ruddick 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 InterOil Corporation (IOC) opened lower by -4.24% and are currently trading at $51.65. In the past year, the shares have traded as low as $31.18 and as high as $75.87. On average, 753430 shares of IOC exchange hands on a given day and today's volume is recorded at 693371. The shares are currently trading below the 200-day moving average which indicates that the shares have been suffering from downward momentum lately. The stock may bounce higher to test the 200-day moving average, so look for a move up to the $56.58 area where the stock may encounter resistance.
Shares of Buckle Inc (BKE) opened lower by -4.14% and are currently trading at $46.43. In the past year, the shares have traded as low as $31.97 and as high as $50.00. On average, 376390 shares of BKE exchange hands on a given day and today's volume is recorded at 167402. 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 $46.43 represents resistance and the 200-day moving average of $41.39 would be an area of support.
Shares of Cell Therapeutics, Inc (CTIC) opened lower by -3.97% and are currently trading at $1.2. In the past year, the shares have traded as low as $0.95 and as high as $2.46. On average, 2528620 shares of CTIC exchange hands on a given day and today's volume is recorded at 500708. The shares are currently trading below the 200-day moving average which indicates that the shares have been suffering from downward momentum lately. The stock may bounce higher to test the 200-day moving average, so look for a move up to the $1.23 area where the stock may encounter resistance.
Shares of V.F. Corporation (VFC) opened lower by -3.8% and are currently trading at $149.1. In the past year, the shares have traded as low as $90.16 and as high as $152.50. On average, 976680 shares of VFC exchange hands on a given day and today's volume is recorded at 118895. 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 $143.31 area where the stock will likely see buying pressure.
Shares of Ruddick Corp (RDK) opened lower by -3.57% and are currently trading at $38.73. In the past year, the shares have traded as low as $35.96 and as high as $45.54. On average, 298790 shares of RDK exchange hands on a given day and today's volume is recorded at 6508. The shares are currently trading below the 200-day moving average which indicates that the shares have been suffering from downward momentum lately. The stock may bounce higher to test the 200-day moving average, so look for a move up to the $41.20 area where the stock may encounter resistance.
