Gap (GPS, $13.19 ) teams up with Kanye West's fashion firm

On Friday, Gap Inc. unveiled a clothing and marketing collaboration with rapper/singer Kanye West.

The retail company is tying up with West’s  fashion company Yeezy, for a new clothing line called Yeezy Gap. Yeezy was recently valued at $2.9 billion.

West will receive loyalty payments and "potential equity' related to sales targets of the brand over its ten-year timeframe, according to Gap. Yeezy Gap will be available in stores next year.

"We are excited to welcome Kanye back to the Gap family as a creative visionary, building on the aesthetic and success of his YEEZY brand and together defining a next-level retail partnership," said Mark Breitbard, Global Head of Gap Brand.

Technical Analysis (Indicators) for GAP

Bearish Trend Analysis

The Moving Average Convergence Divergence (MACD) crossed below the signal line. In 36 of 50 cases where GPS's MACD histogram became negative, the price fell further within the following month. The odds of a continued Downtrend are 72%.

Following a 3-day Decline, the ticker is projected to fall further. Considering data from situations where GPS declined for three days, in 203 of 289 cases, the price rose further within the following month. The odds of a continued Downtrend are 70%.

The higher Bollinger Band was broken -- a price fall is expected as the ticker heads toward the middle band, which invites the trader to consider selling or shorting the ticker, or exploring put options. In 27 of 38 cases where GPS's price broke its higher Bollinger Band, its price dropped further during the following month. The odds of a continued Downtrend are 71%.

Bullish Trend Analysis

The Stochastic Indicator suggests the ticker price trend may be in a reversal from a Downtrend to an Uptrend. 47 of 66 cases where GPS's Stochastic Indicator exited the oversold zone resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued Uptrend are 71%.

The Momentum Indicator exceeded the 0 level on June 25, 2020. Traders may consider buying the ticker or exploring call options. In 63 of 87 cases where the ticker's Momentum Indicator exceeded 0, its price rose further within the subsequent month. The odds of a continued Uptrend are 72%.

The 10-day Moving Average for this ticker crossed above its 50-day Moving Average on May 26, 2020, which can be construed as a buy signal, indicating that the trend is shifting higher. In 14 of 21 similar cases where GPS's 10-day Moving Average crossed above its 50-day Moving Average, the price rose further within the following month. The odds of a continued Uptrend are 67%.

The Aroon Indicator entered an Uptrend today. In 127 of 189 similar cases where GPS Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are 67%.