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Watch for Shares of Gap Inc (GPS) to Approach Resistance at $37.52

Published on Thu, 04/25/2013 - 09:42
By Adrienne Chilton

Shares of Gap Inc (NYSE:GPS) opened today above their pivot of $36.82 and have already reached the first level of resistance at $37.19. Investors may be interested in a cross of the next upside pivot targets of $37.52 and $38.22.

Potential upside of 3.4% exists for Gap Inc, based on a current level of $37.26 and analysts' average consensus price target of $38.55. The stock should find initial support at its 50-day moving average (MA) of $35.22 and further support at its 200-day MA of $33.91.

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.

In the past 52 weeks, Gap Inc share prices have been bracketed by a low of $25.02 and a high of $38.23 and are now at $37.26, 49% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has advanced 0.8%.

By Adrienne Chilton
achilton@fnno.com