Tuesday, June 7, 2011

Notable stocks gapping higher: (TIN), (APSA), (BZ), (HGG), (TBBK)

The following stocks gapped up significantly at the open on June 7: Temple-Inland Inc, Alto Palermo S.A, Boise Inc, hhgregg, Inc, and The Bancorp Inc. 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 Temple-Inland Inc (TIN) opened higher by 42.65% and are currently trading at $29.66. In the past year, the shares have traded as low as $15.21 and as high as $25.92. On average, 1272620 shares of TIN exchange hands on a given day and today's volume is recorded at 5136680. 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 $21.47 area.

Shares of Alto Palermo S.A (APSA) opened higher by 14.16% and are currently trading at $23.31. In the past year, the shares have traded as low as $6.98 and as high as $21.70. On average, 2380 shares of APSA exchange hands on a given day and today's volume is recorded at 4396. 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 $13.34 area.

Shares of Boise Inc (BZ) opened higher by 10.84% and are currently trading at $7.99. In the past year, the shares have traded as low as $4.70 and as high as $9.85. On average, 2159540 shares of BZ exchange hands on a given day and today's volume is recorded at 592201. 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 $8.58 area but be careful because the stock may face selling pressure at this level.

Shares of hhgregg, Inc (HGG) opened higher by 8.97% and are currently trading at $14.88. In the past year, the shares have traded as low as $11.89 and as high as $28.64. On average, 628910 shares of HGG exchange hands on a given day and today's volume is recorded at 33358. 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 $13.30 area where the stock will likely see buying pressure.

Shares of The Bancorp Inc (TBBK) opened higher by 8.36% and are currently trading at $9.39. In the past year, the shares have traded as low as $6.17 and as high as $10.34. On average, 109410 shares of TBBK exchange hands on a given day and today's volume is recorded at 4593. 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 $8.73 area.

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