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Gap Inc Crosses Above its 10-day MA (GPS)

By Nick Russo

Gap Inc (NYSE:GPS) crossed over its 10-day moving average of $18.04 on a volume of 1.7 million shares. This may provide swing traders with an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

Gap Inc share prices have moved between a 52-week high of $40.64 and a 52-week low of $17.00 and are now trading 8% above that low price at $18.31 per share. The 200-day and 50-day moving averages have moved 1.06% lower and 1.29% lower over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Gap Inc on April 8th, 2016 by issuing a Downtrend alert when the shares were trading at $24.61. Since that call, shares of Gap Inc have fallen 27.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses gap inc

Ticker(s): GPS