Watch These Gap Price Levels as Stock Plunges After Retailer Warns of Tariff Hit
Key Takeaways
- Gap shares plunged Friday after the apparel retailer cautioned that tariffs will weigh on profit this year, overshadowing quarterly results that topped Wall Street expectations.
- The stock had previously run into selling pressure near prominent peaks that formed on the chart in March and June last year, indicating that some larger market participants locked in profits ahead of the retailer’s quarterly results.
- Investors should watch crucial support levels on Gap’s chart around $22 and $19, while also monitoring a major overhead area near $29.
Gap Inc. (GAP) shares plunged Friday after the apparel retailer cautioned that tariffs will weigh on profit this year, overshadowing quarterly results that topped Wall Street…
