Gap Inc (The) Stock Forecast
Evaluation of Gap Inc (The) stock downgraded after the last trading session.
(Updated on May 07, 2024)
The Gap Inc (The) stock price fell by -0.450% on the last day (Tuesday, 7th May 2024) from $22.21 to $22.11. During the last trading day the stock fluctuated 4.92% from a day low at $22.06 to a day high of $23.14. The price has been going up and down for this period, and there has been a 5.74% gain for the last 2 weeks. Volume has increased on the last day by 1 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 7 million shares were bought and sold for approximately $161.32 million.
The stock lies in the middle of a very wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 8.90% during the next 3 months and, with a 90% probability hold a price between $21.76 and $32.40 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, May 01, 2024, and so far it has risen 11.55%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 $23.46. On a fall, the stock will find some support from the short-term average at $21.18. 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. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
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 has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $1.08 between high and low, or 4.92%. For the last week, the stock has had daily average volatility of 3.94%.
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 Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Gap Inc (The) to open at $22.43, and during the day (based on 14 day Average True Range), to move between $21.21 and $23.01, which gives a possible trading interval of +/-$0.90 (+/-4.06%) up or down from last closing price. If Gap Inc (The) takes out the full calculated possible swing range there will be an estimated 8.11% 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 (2.13%) than the resistance at $22.71 (2.71%), 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?
Gap Inc (The) holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.515 Sell Candidate Downgraded
Predicted Opening Price for Gap Inc (The) of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| $22.43 ( 1.47%) | $22.11 |
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 | 23.52 | 6.38 % | |
| R2 | 23.11 | 4.50 % | ||
| R1 | 22.85 | 3.34 % | ||
| Current price: | 22.11 | |||
| Support | S1 | 22.02 | -0.405 % | |
| S2 | 21.76 | -1.56 % | ||
| S3 | 21.35 | -3.44 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 24.69 | 11.67 % | |
| R2 | 23.59 | 6.69 % | ||
| R1 | 22.71 | 2.71 % | ||
| Current price | 22.11 | |||
| Support | S1 | 21.64 | -2.13% | |
| S2 | 20.92 | -5.38% | ||
| S3 | 19.33 | -12.57% |
GPS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 27, 2024 | Apr 10, 2024 | May 01, 2024 | $0.150 | 0.756% |
| 2 | Feb 27, 2024 | Apr 09, 2024 | May 01, 2024 | $0.150 | 0.756% |
| 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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