Gap Inc (The) Stock Forecast
Stronger technical forecast for Gap Inc (The) stock price after Thursday trading.
(Updated on Apr 18, 2024)
The Gap Inc (The) stock price fell by -0.80% on the last day (Thursday, 18th Apr 2024) from $21.20 to $21.03. During the last trading day the stock fluctuated 3.78% from a day low at $20.91 to a day high of $21.70. The price has fallen in 8 of the last 10 days and is down by -14.82% 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 -1 million shares and in total, 6 million shares were bought and sold for approximately $116.81 million.
The stock has broken the very wide and strong rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at $21.20. A reaction back to this level may hold a second chance to get out before further falls.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
GPS Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 0.238%. Further rise is indicated until a new top pivot has been found. 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 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 $22.02 and $23.54. A break-up above any of these levels will issue buy signals. 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 $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 $0.790 between high and low, or 3.78%. For the last week, the stock has had daily average volatility of 4.68%.
Gap Inc (The) is oversold on RSI14 (6). 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: $19.60 (-6.79%) (This stock has high daily movements and this gives high risk. Low RSI14 is 6 which reduces the risk some. There is a buy signal from a pivot bottom found 2 days ago.)
Trading Expectations (GPS) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Gap Inc (The) to open at $21.21, and during the day (based on 14 day Average True Range), to move between $20.07 and $21.99, which gives a possible trading interval of +/-$0.96 (+/-4.56%) up or down from last closing price. If Gap Inc (The) takes out the full calculated possible swing range there will be an estimated 9.13% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $20.92 (0.52%) than the resistance at $21.64 (2.90%), 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 this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.509 Hold/Accumulate Upgraded
Predicted Opening Price for Gap Inc (The) of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $21.21 ( 0.86%) | $21.03 |
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 | 22.00 | 4.61 % | |
| R2 | 21.70 | 3.18 % | ||
| R1 | 21.51 | 2.29 % | ||
| Current price: | 21.03 | |||
| Support | S1 | 20.91 | -0.579 % | |
| S2 | 20.72 | -1.47 % | ||
| S3 | 20.42 | -2.90 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 24.69 | 17.40 % | |
| R2 | 23.59 | 12.17 % | ||
| R1 | 21.64 | 2.90 % | ||
| Current price | 21.03 | |||
| Support | S1 | 20.92 | -0.523% | |
| S2 | 19.33 | -8.08% | ||
| S3 | 19.06 | -9.37% |
GPS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 27, 2024 | Apr 10, 2024 | May 01, 2024 | $0.150 | 0.713% |
| 2 | Feb 27, 2024 | Apr 09, 2024 | May 01, 2024 | $0.150 | 0.713% |
| 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
Click here for our free guide on how to buy Gap Inc (The) Stock.
