Gap Stock Price Levels to Watch After Post-Earnings Pop

19 minutes ago

Gap (GAP) shares soared in premarket trading Friday after the apparel retailer reported stronger-than-expected third-quarter results and raised its sales outlook.

The company now anticipates fiscal 2024 sales to grow between 1.5% and 2% compared to its earlier guidance of “up slightly,” as the retailer continues to make progress executing a turnaround plan under CEO Richard Dickson. The retailer said the holiday period has started strongly.

The shares look set to stage a decisive breakout above a descending triangle following the company’s strong earnings report, potentially leading to a continuation of the stock's uptrend.

Investors should track key overhead price levels on Gap's chart around $27, $36, and $52, while monitoring a crucial support area near $20.

The stock was up 19% at around $26 about 15 minutes before the opening bell.

Read the full technical analysis here.

–Timothy Smith

Futures Point to Mixed Open for Major Indexes

1 hr 22 min ago

Futures tied to the Dow Jones Industrial Average were up 0.1%.

S&P 500 futures were down 0.1%.

Nasdaq 100 futures were also off 0.1%.

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