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Gap Inc/The Rises 1.28% on Heavy Volume: Watch For Potential Pullback

By James Quinn

Gap Inc/The (NYSE:GPS) traded in a range yesterday that spanned from a low of $30.98 to a high of $31.66. Yesterday, the shares gained 1.3%, which took the trading range above the 3-day high of $31.55 on volume of 1.7 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Gap Inc/The share prices have moved between a 52-week high of $35.68 and a 52-week low of $21.84 and are now trading 44% above that low price at $31.47 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.3%.

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: rebounders gap inc/the

Ticker(s): GPS