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TMCNet:  Gap Inc (GPS) Crosses Pivot Point Support at $35.30

[November 26, 2012]

Gap Inc (GPS) Crosses Pivot Point Support at $35.30

Nov 26, 2012 (SmarTrend(R) News Watch via COMTEX) -- Shares of Gap Inc (NYSE:GPS) opened today below their pivot of $35.46 and have already reached the first level of support at $35.30. Analysts will be watching for a cross of the next downside pivot targets of $35.11 and $34.76.

In the past 52 weeks, Gap Inc share prices have been bracketed by a low of $17.62 and a high of $37.85 and are now at $35.40, 101% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.9% while the 50-day MA has remained constant.

Gap Inc has overhead space with shares priced $35.40, or 9.2% below the average consensus analyst price target of $38.99. Gap Inc shares should encounter resistance at the 50-day moving average (MA) of $35.90 and support at its 200-day MA of $28.98.

SmarTrend is tracking the current trend status for Gap Inc and will alert subscribers who have GPS in their portfolio or watchlist when shares have changed trend direction.

Write to Chip Brian at cbrian@mysmartrend.com --------------------------------------------------------------------------------------------- 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

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