Gap Inc (The) Stock Forecast
Strong day for Gap Inc (The) stock price on Friday rising 5.59% to $21.35
(Updated on Apr 26, 2024)
The Gap Inc (The) stock price gained 5.59% on the last trading day (Friday, 26th Apr 2024), rising from $20.22 to $21.35. During the last trading day the stock fluctuated 6.48% from a day low at $20.06 to a day high of $21.36. The price has fallen in 6 of the last 10 days and is down by -5.11% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 million more shares were traded than the day before. In total, 8 million shares were bought and sold for approximately $164.32 million.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $20.26 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 18.44% during the next 3 months and, with a 90% probability hold a price between $24.00 and $35.99 at the end of this 3-month period.
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GPS Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, April 24, 2024, and so far it has risen 6.17%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Gap Inc (The) stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $23.78. On a fall, the stock will find some support from the short-term average at $20.73. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Gap Inc (The) stock
Gap Inc (The) finds support from accumulated volume at $20.92 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 $1.30 between high and low, or 6.48%. For the last week, the stock has had daily average volatility of 4.37%.
Our recommended stop-loss: $20.42 (-4.36%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 2 days ago.)
Trading Expectations (GPS) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Gap Inc (The) to open at $20.92, and during the day (based on 14 day Average True Range), to move between $20.43 and $22.27, which gives a possible trading interval of +/-$0.92 (+/-4.30%) up or down from last closing price. If Gap Inc (The) takes out the full calculated possible swing range there will be an estimated 8.60% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $21.64 (1.36%) than the support at $20.92 (2.01%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Gap Inc (The) stock A Buy?
Gap Inc (The) holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.237 Hold/Accumulate Unchanged
Predicted Opening Price for Gap Inc (The) of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $20.92 ( 2.00%) | $21.35 |
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 | 22.22 | 4.09 % | |
| R2 | 21.73 | 1.76 % | ||
| R1 | 21.42 | 0.328 % | ||
| Current price: | 21.35 | |||
| Support | S1 | 20.43 | -4.32 % | |
| S2 | 20.12 | -5.76 % | ||
| S3 | 19.62 | -8.09 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 24.69 | 15.64 % | |
| R2 | 23.59 | 10.49 % | ||
| R1 | 21.64 | 1.36 % | ||
| Current price | 21.35 | |||
| Support | S1 | 20.92 | -2.01% | |
| S2 | 19.33 | -9.46% | ||
| S3 | 19.06 | -10.73% |
GPS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 27, 2024 | Apr 10, 2024 | May 01, 2024 | $0.150 | 0.703% |
| 2 | Feb 27, 2024 | Apr 09, 2024 | May 01, 2024 | $0.150 | 0.703% |
| 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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