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After Yesterday's Rally of 1.41% Shares Could Potentially Pullback

By Shiri Gupta

Gap Inc/The (NYSE:GPS) traded in a range yesterday that spanned from a low of $22.04 to a high of $22.38. Yesterday, the shares gained 1.4%, which took the trading range above the 3-day high of $22.27 on volume of 1.9 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend recommended that its subscribers protect gains by selling shares of Gap Inc/The on May 19th, 2017 by issuing a Downtrend alert when the shares were trading at $23.05. Since that call, shares of Gap Inc/The have fallen 4.7%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Over the past year, Gap Inc/The has traded in a range of $19.33 to $30.74 and is now at $22.23, 15% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 1.1% while the 50-day MA has declined 1.3%.

Keywords: rebounders gap inc/the

Ticker(s): GPS