Today, shares of Gap Inc (NYSE:GPS) have fallen below their 10-day MA of $32.89 on a volume of 1.1 million shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.
In the past 52 weeks, shares of Gap Inc have traded between a low of $18.53 and a high of $37.85 and are now at $32.74, which is 77% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has remained constant.
Gap Inc (NYSE:GPS) has potential upside of 18.4% based on a current price of $32.74 and analysts' consensus price target of $38.76. The stock should find initial support at its 50-day moving average (MA) of $32.56 and further support at its 200-day MA of $31.58.
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.