quantguy
Short

Gap Downgraded

NYSE:GPS   GAP INC
GPS is another stock on the downgrade list. Further indicators of weakness include the fact that it failed to break the high from 10/22 or 10/28 most recently. Furthermore, the negative slope across highs is getting steeper and steeper. The big rally on 10/28 was met with a meager follow up indicating this asset is exhausted and is likely to retrace. For profit targets, consider either the Fibonacci levels, the lows of 10/15 and 10/27, or the low of the gap day on 10/28.
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