• Return to Headlines

Possible Bullish Inside Day Candle Pattern Detected for Gap Inc/The (NYSE:GPS)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Gap Inc/The (NYSE:GPS) based on the price action in the company's shares. Yesterday's price range of $31.44 and $32.18 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Traders and investors interested in shares of Gap Inc/The may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Gap Inc/The (NYSE:GPS) is currently priced 9.1% above its average consensus analyst price target of $28.70. Gap Inc/The shares have support at the 200-day moving average (MA) of $27.98 and additional support at the 50-day MA of $26.88.

The Gap, Inc. is an international specialty retailer operating retail and outlet stores. The Company sells casual apparel, accessories, and personal care products for men, women, and children. The Gap operates stores in the United States, Canada, the United Kingdom, France, Ireland, and Japan.

In the past 52 weeks, shares of Gap Inc/The have traded between a low of $19.33 and a high of $35.68 and closed yesterday at $31.58, which is 63% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.3% while the 200-day MA has slid 1.1%.

SmarTrend is tracking the current trend status for Gap Inc/The and will alert subscribers who have GPS in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle gap inc/the

Ticker(s): GPS