Gap Inc (NYSE:GPS) shares have crossed bearishly below their 10-day moving average of $39.66 on a volume of 7.4 million shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.
The Gap, Inc., is an international specialty retailer operating retail and outlet stores. The Company sells casual apparel, accessories and personal care products for men, women, and children. The Gap operates stores in the United States, Canada, the United Kingdom, France, Ireland, and Japan.
Over the past year, Gap Inc has traded in a range of $35.46 to $46.85 and is now at $38.50, 9% above that low. The 200-day and 50-day moving averages have moved 0% lower and 0.13% lower over the past week, respectively.
Gap Inc (NYSE:GPS) has potential upside of 13.2% based on a current price of $38.50 and analysts' consensus price target of $43.56. The stock should run into initial resistance at its 200-day moving average (MA) of $41.10 and subsequent resistance at its 50-day MA of $41.35.