GPS unable to break through key resistance level


Gap (The) (GPS) Technical Analysis Report for Apr 16, 2018 [< 1 min read]
Highlights
GPS unable to break through key resistance level
GPS closes within previous day's range after lackluster session
GPS ends the day indecisive
TQ Sentiment
Report Sentiment: 25% Bearish
Technical Forecast:
Overview

GPS finished Monday at 30.16 edging higher $0.11 (0.37%) on low volume. Closing within the previous day's range, prices failed to decisively move past the prior day's trading range in a lackluster session. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for GPS
Volatility

Monday's trading range was $0.60 (1.98%), that's below last trading month's daily average range of $0.84. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being below average.

Support/Resistance

Unable to break through the key technical resistance level at 30.29, Gap (The) closed below it after spiking as high as 30.44 during the day. The failure to close above the resistance might increase that levels importance as resistance going forward.

Trend

Though still in a long-term uptrend, the short and medium-term trends both turned bearish already.

Order Flow

Buying could accelerate should prices move above the close-by swing high at 30.93 where further buy stops might get activated. With prices trading close to this year's low at 29.04, downside momentum could speed up should the stock break out to new lows for the year.

Conclusion

Both sentiments, the classical technical analysis and our quantitative statistics are in perfect alignment today showing a neutral sentiment for the next trading day.

Market Conditions for Gap (The)
ConditionForecastDirectionWinAvgWorstBestEvents
Close near low of period TQ Pro Members Only
Black Candle TQ Pro Members Only
High close to previous High TQ Pro Members Only
Closed below last periods low TQ Pro Members Only
Down Close Near Low of Period TQ Pro Members Only
More market conditions identified for TQ Pro members...
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