Gap Inc (The) Stock Forecast
Gap Inc (The) stock price ended at $21.88 on Monday, after losing 2.76%.
(Updated on Apr 15, 2024)
The Gap Inc (The) stock price fell by -2.76% on the last day (Monday, 15th Apr 2024) from $22.50 to $21.88. During the last trading day the stock fluctuated 5.10% from a day low at $21.76 to a day high of $22.87. The price has fallen in 9 of the last 10 days and is down by -19.71% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -382 thousand shares and in total, 7 million shares were bought and sold for approximately $143.16 million.
Given the current short-term trend, the stock is expected to rise 34.03% during the next 3 months and, with a 90% probability hold a price between $29.32 and $40.85 at the end of this 3-month period.
GPS Signals & Forecast
There are few to no technical positive signals at the moment. The Gap Inc (The) stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $23.11 and $23.40. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 21, 2024, and so far it has fallen -23.17%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Gap Inc (The) stock
Gap Inc (The) finds support from accumulated volume at $21.64 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $1.11 between high and low, or 5.10%. For the last week, the stock has had daily average volatility of 4.06%.
Gap Inc (The) is oversold on RSI14 (7). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (GPS) For The Upcoming Trading Day Of Tuesday 16th
For the upcoming trading day on Tuesday, 16th we expect Gap Inc (The) to open at $22.17, and during the day (based on 14 day Average True Range), to move between $20.93 and $22.83, which gives a possible trading interval of +/-$0.95 (+/-4.33%) up or down from last closing price. If Gap Inc (The) takes out the full calculated possible swing range there will be an estimated 8.66% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $21.64 (1.10%) than the resistance at $22.71 (3.79%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Gap Inc (The) stock A Buy?
The Gap Inc (The) stock holds several negative signals and despite the positive trend, we believe Gap Inc (The) will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -1.287 Sell Candidate Unchanged
Predicted Opening Price for Gap Inc (The) of Tuesday, April 16, 2024
| Fair opening price April 16, 2024 | Current price |
|---|---|
| $22.17 ( 1.33%) | $21.88 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GPS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 23.28 | 6.40 % | |
| R2 | 22.86 | 4.46 % | ||
| R1 | 22.59 | 3.26 % | ||
| Current price: | 21.88 | |||
| Support | S1 | 21.75 | -0.609 % | |
| S2 | 21.48 | -1.81 % | ||
| S3 | 21.06 | -3.74 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 24.69 | 12.84 % | |
| R2 | 23.59 | 7.82 % | ||
| R1 | 22.71 | 3.79 % | ||
| Current price | 21.88 | |||
| Support | S1 | 21.64 | -1.10% | |
| S2 | 20.92 | -4.39% | ||
| S3 | 19.33 | -11.65% |
GPS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 27, 2024 | Apr 10, 2024 | May 01, 2024 | $0.150 | 0.686% |
| 2 | Feb 27, 2024 | Apr 09, 2024 | May 01, 2024 | $0.150 | 0.686% |
| 3 | Nov 07, 2023 | Jan 02, 2024 | Jan 31, 2024 | $0.150 | 0.80% |
| 4 | Aug 16, 2023 | Oct 03, 2023 | Oct 25, 2023 | $0.150 | 1.15% |
| 5 | May 09, 2023 | Jul 03, 2023 | Jul 26, 2023 | $0.150 | 1.51% |
FAQ
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