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Next Support Level for Gap Inc/The (GPS) is $16.38

By Amy Schwartz

Gap Inc/The (NYSE:GPS) has opened bearishly below the pivot of $18.02 today and has reached the first level of support at $17.16. Should the shares continue to fall, the support pivots of $16.38 and $14.74 will be of interest.

In the past 52 weeks, shares of Gap Inc/The have traded between the current low of $17.08 and a high of $32.98 and are now at $17.08. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.5% while the 200-day MA has slid 0.5%.

There is potential upside of 100.9% for shares of Gap Inc/The based on a current price of $17.08 and an average consensus analyst price target of $34.31. The stock should find initial resistance at its 50-day moving average (MA) of $18.31 and further resistance at its 200-day MA of $23.71.

SmarTrend recommended that its subscribers protect gains by selling shares of Gap Inc/The on May 13th, 2019 by issuing a Downtrend alert when the shares were trading at $23.30. Since that call, shares of Gap Inc/The have fallen 22.9%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: pivot alerts gap inc/the

Ticker(s): GPS