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After Yesterday's Rally of 1.54% Shares Could Potentially Pullback

By Amy Schwartz

Gap Inc/The (NYSE:GPS) traded in a range yesterday that spanned from a low of $34.46 to a high of $35.24. Yesterday, the shares gained 1.5%, which took the trading range above the 3-day high of $34.63 on volume of 961,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, Gap Inc/The share prices have been bracketed by a low of $19.33 and a high of $35.24 and are now at $34.98, 81% above that low price. 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%.

SmarTrend recommended that subscribers consider buying shares of Gap Inc/The on November 17th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $29.49. Since that recommendation, shares of Gap Inc/The have risen 16.8%. We continue to monitor GPS for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders gap inc/the

Ticker(s): GPS