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Gap Inc (GPS) Approaches New Upside Target of $35.77

Published on Mon, 04/01/2013 - 09:42
By Robert Cotter

Shares of Gap Inc (NYSE:GPS) opened today above their pivot of $35.30 and have already reached the first level of resistance at $35.58. Should the shares continue to rise, the resistance pivots of $35.77 and $36.24 will be of interest.

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.

Potential upside of 8.5% exists for Gap Inc, based on a current level of $35.54 and analysts' average consensus price target of $38.55. The stock should discover initial support at its 50-day moving average (MA) of $33.77 and subsequent support at its 200-day MA of $33.01.

Gap Inc share prices have moved between a 52-week high of $37.85 and a 52-week low of $25.02 and are now trading 42% above that low price at $35.54 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.9% while the 200-day MA has risen 0.6%.

By Robert Cotter
rcotter@fnno.com