After Yesterday's Rally of 2.55% Shares Could Potentially Pullback
Gap Inc (NYSE:GPS) traded in a range yesterday that spanned from a low of $25.70 to a high of $26.74. Yesterday, the shares gained 2.6%, which took the trading range above the 3-day high of $26.00 on volume of 10.5 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 subscribers consider buying shares of Gap Inc on June 20th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $20.69. Since that recommendation, shares of Gap Inc have risen 25.1%. We continue to monitor GPS for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Gap Inc share prices have moved between a 52-week high of $40.64 and a 52-week low of $17.00 and are now trading 57% above that low price at $26.71 per share. 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%.
Keywords: rebounders gap inc