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Resistance

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>GPS&nbsp; stock price slumped 9.55% on Monday to close at $10.13.&nbsp;&nbsp;</a> </li> 
 <li> <span>2</span> <a>Gap Inc. (NYSE: GPS) stock price fell below the key exponential moving average of 50-day and 200-day.&nbsp;&nbsp;</a> </li> 
 <li> <span>3</span> <a>The daily chart shows the formation of a bearish flag.&nbsp;</a> </li> 
</ul> 
<p>Gap Inc. (NYSE: GPS) stock price slumped 9.5% intraday on Monday’s session. The price is nearing the lower boundary of the bearish flag pattern. The price has also neared a round level of $10 from where bulls may look to defend the round level and try to maintain the flag pattern.&nbsp;</p> 
<p>The daily chart witnessed that the price had been in a declining trend after it slid down below the 50-day EMA. The price declined to hit a 3-year low of $7.22 in May 2023. Thereafter, the bulls turned aggressive leading to a shift in the trend.</p> 
<p>The technical indicators imply that the Gap price fell below the 50-day and 200-day EMA indicating bears are dominating in the short-term. Technical indicators like RSI and EMA are showing a bearish signal; indicating that the price might continue with the momentum in Tuesday’s session.</p> 
<p>The analysts offering a 1-year price forecast for Gap Inc. have a wide range of outlook. The analysts have a maximum bullish outlook of 77% which could take the price to a high of $18. Also, the analysts have a bearish outlook of 40% which could drag the price to a low of $6.&nbsp;</p> 
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  <img decoding="async" loading="lazy" width="1024" height="549" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-557-1024x549.png" alt="" class="wp-image-169433" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-557-1024x549.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-557-300x161.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-557-768x412.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-557-750x402.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-557-1140x611.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-557.png 1452w" sizes="(max-width: 1024px) 100vw, 1024px"> 
  <figcaption class="wp-element-caption">
    Source: barchart.com 
  </figcaption> 
 </figure> 
</div> 
<p>GPS stock option-chain analysis states that the current implied volatility in the market is 44.74% with an increment of 4.75% in the last trading session. The at-the-money strike price has 53 open contracts on the PUT side and 100 open contracts on the CALL side; indicating the dominance of sellers at the current level.&nbsp;&nbsp;</p> 
<h2 class="wp-block-heading" id="strong-gps-stock-price-shows-a-bearish-flag-pattern-strong"><strong>GPS Stock Price Shows a Bearish Flag Pattern</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large"> 
  <img decoding="async" loading="lazy" width="1024" height="478" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-558-1024x478.png" alt="" class="wp-image-169434" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-558-1024x478.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-558-300x140.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-558-768x359.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-558-1536x717.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-558-750x350.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-558-1140x532.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-558.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px"> 
  <figcaption class="wp-element-caption">
    Source: Gap, Inc. 1D. NYSE By <a href="https://www.tradingview.com/x/3wB4g70u/" rel="noopener noreferrer nofollow">TradingView</a> 
  </figcaption> 
 </figure> 
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<p>The <a href="https://www.thecoinrepublic.com/2023/02/06/walt-disney-co-dis-stock-price-prediction-dis-stock-price-prepares-for-gap-down-in-the-q4-earnings/" target="_blank" rel="noopener noreferrer nofollow">GPS stock price</a> currently trades at $10.13. The price has been near the lower boundary of the bearish flag. From here, it may get the buyers’ support to halt the declining momentum.&nbsp;</p> 
<p>However, if the price fails to attract buyers, then it might continue with the momentum on Tuesday and slide below the lower boundary of the bearish flag. The breakdown of the pattern may trigger long unwinding among the buyers and the price may experience a sharp decline.&nbsp;</p> 
<h3 class="wp-block-heading" id="strong-emas-show-bearishness-in-the-short-term-strong"><strong>EMAs Show Bearishness in the Short-Term</strong></h3> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large"> 
  <img decoding="async" loading="lazy" width="1024" height="478" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-559-1024x478.png" alt="" class="wp-image-169435" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-559-1024x478.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-559-300x140.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-559-768x359.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-559-1536x717.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-559-750x350.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-559-1140x532.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-559.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px"> 
  <figcaption class="wp-element-caption">
    Source: Gap, Inc. 1D. NYSE By <a href="https://www.tradingview.com/x/3wB4g70u/" rel="noopener noreferrer nofollow">TradingView</a> 
  </figcaption> 
 </figure> 
</div> 
<p>The daily GPS stock price chart shows that the price fell below the key exponential moving averages indicating the dominance of the sellers at the upper levels. The overall technical opinion rating including RSI and MACD signals a 16% buy with the weakest short-term outlook on maintaining the current direction.</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p>Gap Inc. (GPS) stock price dropped 9.5% on Monday and approached the lower edge of a bearish flag pattern and a round level of $10. The price has been in a downtrend after falling below the 50-day and 200-day EMA. The technical indicators suggest more bearishness ahead. The analysts have a wide range of outlook for the next year, from $6 to $18. The price may bounce from the flag support or break down and trigger a sharp sell-off.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<ul> 
 <li><strong>Support levels:</strong> $20.01 and $17.16</li> 
 <li><strong>Resistance levels:</strong> $24.41 and $26.90</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.&nbsp;</p>

GPS Stock Price Prediction: Can GPS Price Crash Below $8 Mark?

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