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

By Amy Schwartz

Today, shares of Gap Inc (NYSE:GPS) have advanced above their 10-day MA of $23.76 on a volume of 2.0 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.

In the past 52 weeks, Gap Inc share prices have been bracketed by a low of $17.00 and a high of $40.64 and are now at $24.02, 41% above that low price. Over the past week, the 200-day moving average (MA) has gone down 1.1% while the 50-day MA has declined 1.3%.

SmarTrend recommended that its subscribers protect gains by selling shares of Gap Inc on December 2nd, 2016 by issuing a Downtrend alert when the shares were trading at $24.47. Since that call, shares of Gap Inc have fallen 6.4%. 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