AAP breaks below previous session low
AAP ended the week 1.15% higher at 146.35 after losing $1.44 (-0.97%) today on high volume. Trading $1.07 higher after the open, Advance Auto was unable to hold its gains as the bears took control ending the day below its opening price. Closing below Thursday's low at 146.46, the share confirms its breakout through the previous session's low having traded $1.34 below it intraday. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Friday's trading range was $2.79 (1.9%), that's slightly above last trading month's daily average range of $2.65. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly below average.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
Buying might accelerate should prices move above the close-by swing high at 148.70 where further buy stops could get activated.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being slightly bearish.
Market Conditions for Advance Auto Parts
|4 Consecutive Higher Closes||TQ Pro Members Only|
|Close to S1 Support||TQ Pro Members Only|
|Low close to previous low||TQ Pro Members Only|
|Close to Swing High||TQ Pro Members Only|
|Bounced off Technical Support S1||TQ Pro Members Only|
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