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Technical Analysis: GAP, INC. (#GPS)

The Gap, Inc., commonly known as Gap Inc. or Gap, is an American worldwide clothing and accessories retailer. Gap was founded in 1969 by Donald Fisher and Doris F. Fisher and is headquartered in San Francisco, California

#GPS had a very strong run from April 2020 till the end of November: on the 25th November 2020 the share dropped more than 20% after earnings release.

EPS were posted at 0.25 vs the 0.27 expected, even if the sales were actually better than expected major analysts are worried about the performances of the 4th quarter and how the earnings will be affected.

The news, as said, caused a significant drop in #GPS stock. However, the price hold strongly at the 50MA: strong support played over the last months.

We believe the moved to the downside to be a good entry point for upside potential

Buy price: $ 21.50

1st target: $ 22.70

2nd target: $ 24.50

Stop loss: $ 20.00

OTB Global Investments

London, 6 December 2020

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