Shares of Gap Inc Fall to a New 52-Week Low
Shares of Gap Inc (NYSE:GPS) traded at a new 52-week low today of $19.16. This new low was reached on above average trading volume as 9.4 million shares traded hands, while the average 30-day volume is approximately 6 million shares.
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, Gap Inc share prices have been bracketed by a current low of $19.16 and a high of $40.64 and are now at $19.18. The 200-day and 50-day moving averages have moved 1.06% lower and 1.29% lower over the past week, respectively.
Gap Inc has overhead space with shares priced $19.18, or 30.5% below the average consensus analyst price target of $27.60. The stock should run into initial resistance at its 50-day moving average (MA) of $26.88 and subsequent resistance at its 200-day MA of $27.98.
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 11.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: 52 week high/lows gap inc