Tuesday, August 28, 2018 12:22:59 PM
Gap Inc (NYSE:GPS) is a leading apparel retail company. They operate under the Gap, Banana Republic, Old Navy, Athleta and Intermix brands. Last week, the stock sold off sharply after reporting earnings. Traders and investors should note that the shares are now trading below their 50 and 200-day moving averages. This puts the stock in a weak technical position and indicates further downside for the stock. Traders and investors should now watch the $27.50 area as the next important support level. This is where the 100-week moving average is located and it should serve as solid support when tested.
Nicholas Santiago
InTheMoneyStocks
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