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SmarTrend Watching for Potential Rebound in Shares of Gap Inc After 2.20% Loss

By Amy Schwartz

Gap Inc (NYSE:GPS) traded in a range yesterday that spanned from a low of $22.49 to a high of $23.04. Yesterday, the shares fell 2.2%, which took the trading range below the 3-day low of $22.81 on volume of 3.6 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, Gap Inc share prices have been bracketed by a low of $17.00 and a high of $40.64 and are now at $22.66, 33% above that low price. 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%.

SmarTrend is monitoring the recent change of momentum in Gap Inc. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Gap Inc in search of a potential trend change.

Keywords: rebounders gap inc

Ticker(s): GPS