Resistance

Daily

Time

<ul class="list-ic vertical">
 <li><span>1</span> <a>GIL stock price is below neutrality, showing bearishness.</a></li>
 <li><span>2</span> <a>Buyers failed to hold the gains and have lost momentum.</a></li>
</ul>
<p>Gildan Activewear (NYSE: GIL) GIL stock persists in a downtrend and is heading toward the crucial support zone of $25, a make-or-break level. If GIL stock holds the cluster of $25, then bulls will try to absorb the selling pressure which could lead to a rebound. If the price falls below $25, a sharp selloff toward $20 followed by $15 is likely. Moreover, the price action favors the bears who persist in making short buildups.&nbsp;</p>
<p>Gildan Activewear (GIL stock) GIL share price has slipped below the key moving averages and is looking to retest the immediate support zone of $50. Furthermore, the rounding top pattern was formed on the charts, which shows bearishness and indicates a negative outlook for the upcoming sessions. As per the options chain, at the strike price of $25, the open interest of 87 hundred shares on the put side, whereas on $30, the open interest of 47 hundred shares signifies that GIL stock may stay in the range between $25 – $30 for the following sessions and try to hold the gains.</p>
<p>At the press time, GIL share price was $27.75 with an intraday gain of 0.04% showing flat moves in the yesterday trading session. Moreover, the trading volume increased by 0.67% to 567.989K, and the market cap is $4.946 Billion. However, analysts have maintained a neutral rating with a yearly target price of $37.08, suggesting a significant growth outlook for the following sessions.</p>
<p>Gildan Activewear, Inc. engages in the manufacture and sale of print wear and branded apparel. Its products include activewear, underwear, socks, hosiery, and legwear. The firm operates under the brand names Gildan, Alstyle, American Apparel, Comfort Colors, GOLD TOE, Anvil, Secret, Silks, and Peds. The company was founded by Glenn J. Chamandy and H. Gregory Chamandy on May 8, 1984, and is headquartered in Montreal, Canada.</p>
<h2 class="wp-block-heading" id="strong-gil-stock-forms-rounding-top-pattern-on-daily-time-frame-strong"><strong>GIL Stock Forms Rounding Top Pattern on Daily Time Frame</strong></h2>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh5.googleusercontent.com/MspAEG9jK05bLYHyPdGzqMgece9CfNTcXCyMp0iCEtZA4VUzPJdT6-HKcorTRlIuoGxq3M3f0FoJOgNLZXz2jx2MYvQJGwpVBmE33pv57p2AzP67MxGyx2et37EkBD7_Xd6y25nog3Ep90XcbJrxyTg" alt="GIL Stock (NYSE: GIL) Facing Headwinds, Will GIL Sustain at $25?">
  <figcaption class="wp-element-caption">
   Source: GIL Stock Price Chart At TradingView
  </figcaption>
 </figure>
</div>
<p>On the daily charts, GIL stock price has faced rejection from the 20-day EMA barrier, while attempting a rebound justifies selling pressure in the past sessions. Moreover, the buyers did not have enough strength to regain momentum and were hovering near the support zone. Furthermore, the chart showcased a rounding top pattern, and the price is toward the crucial support zone of $25. Moreover, the <a href="https://www.thecoinrepublic.com/2023/07/12/gilead-sciences-inc-price-prediction-will-gild-thrust-upward/" rel="noopener noreferrer nofollow">GIL share price</a> is close to the 38.2% Fib zone, indicating bearishness for the past sessions.</p>
<p>The RSI curve stayed below neutrality, forming a bearish divergence. The MACD shows a bullish crossover and green bars on the histogram indicating that buyers are attempting to surpass the 20-day EMA barrier.</p>
<h4 class="wp-block-heading"><strong>Summary&nbsp;</strong></h4>
<p>GIL share price is trading close to the crucial neckline of $25, a make-or-break level to be watched in the upcoming sessions. Moreover, the GIL stock is trading in a downtrend and persists in forming lower lows suggesting a negative outlook for the upcoming sessions.</p>
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4>
<p>Support Levels: $25 and $20</p>
<p>Resistance Levels: $30 and $35</p>
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5>
<p>The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.</p>

GIL Stock (NYSE: GIL) Facing Headwinds, Will GIL Sustain at $25?

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Thecoinrepublic.com

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