Gap Inc (The) Stock Forecast
Gap Inc (The) stock price up 0.747% on Tuesday
(Updated on Apr 23, 2024)
The Gap Inc (The) stock price gained 0.747% on the last trading day (Tuesday, 23rd Apr 2024), rising from $20.75 to $20.91. During the last trading day the stock fluctuated 2.68% from a day low at $20.68 to a day high of $21.23. The price has fallen in 7 of the last 10 days and is down by -9.66% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 million more shares were traded than the day before. In total, 6 million shares were bought and sold for approximately $119.27 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 $20.84 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 23.41% during the next 3 months and, with a 90% probability hold a price between $25.72 and $37.68 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 Monday, April 22, 2024, and so far it has risen 0.747%. 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 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 $21.07 and $23.69. 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).
Support, Risk & Stop-loss for Gap Inc (The) stock
Gap Inc (The) finds support from accumulated volume at $20.04 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 $0.555 between high and low, or 2.68%. For the last week, the stock has had daily average volatility of 3.25%.
Gap Inc (The) is oversold on RSI14 (10). 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: $19.54 (-6.52%) (This stock has high daily movements and this gives high risk. Low RSI14 is 10 which reduces the risk some. There is a buy signal from a pivot bottom found 1 day ago.)
Trading Expectations (GPS) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Gap Inc (The) to open at $20.94, and during the day (based on 14 day Average True Range), to move between $20.02 and $21.79, which gives a possible trading interval of +/-$0.89 (+/-4.25%) up or down from last closing price. If Gap Inc (The) takes out the full calculated possible swing range there will be an estimated 8.51% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $20.92 (0.07%) than the support at $20.04 (4.14%), 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 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.
Current score: 0.328 Hold/Accumulate Unchanged
Predicted Opening Price for Gap Inc (The) of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $20.94 ( 0.151%) | $20.91 |
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 | 21.49 | 2.81 % | |
| R2 | 21.28 | 1.79 % | ||
| R1 | 21.15 | 1.17 % | ||
| Current price: | 20.91 | |||
| Support | S1 | 20.72 | -0.86 % | |
| S2 | 20.59 | -1.49 % | ||
| S3 | 20.38 | -2.50 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 24.69 | 18.11 % | |
| R2 | 23.59 | 12.84 % | ||
| R1 | 20.92 | 0.0718 % | ||
| Current price | 20.91 | |||
| Support | S1 | 20.04 | -4.14% | |
| S2 | 19.33 | -7.53% | ||
| S3 | 19.06 | -8.83% |
GPS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 27, 2024 | Apr 10, 2024 | May 01, 2024 | $0.150 | 0.717% |
| 2 | Feb 27, 2024 | Apr 09, 2024 | May 01, 2024 | $0.150 | 0.717% |
| 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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