TMCnet News
After Yesterday's Rally of 1.61% Shares Could Potentially PullbackNov 06, 2012 (SmarTrend(R) News Watch via COMTEX) -- Gap Inc (NYSE:GPS) traded in a range yesterday that spanned from a low of $35.32 to a high of $36.15. Yesterday, the shares gained 1.6%, which took the trading range above the 3-day high of $35.82 on volume of 5.4 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious. Over the past year, Gap Inc has traded in a range of $17.62 to $37.85 and is now at $35.87, 104% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.9% while the 50-day MA has remained constant. SmarTrend recommended that subscribers consider buying shares of Gap Inc on July 5th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $27.87. Since that recommendation, shares of Gap Inc have risen 26.9%. We continue to monitor GPS for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately. Write to Chip Brian at [email protected] --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup |