AAP closes within previous day's range
Advance Auto Parts Inc W/I (AAP) Technical Analysis Report for Jul 31, 2020 | by Techniquant Editorial Team
AAP finished the month 5.4% higher at 150.14 after losing $2.73 (-1.79%) today, notably underperforming the S&P 500 (0.77%). Closing within the previous day's range, prices missed to decisively move beyond the prior day's trading range.
Daily Candlestick Chart (AAP as at Jul 31, 2020):
Friday's trading range has been $5.80 (3.8%), that's far above the last trading month's daily average range of $3.85. Things look different on the weekly timeframe, where the market's trading range of the last week has been slightly below the market's average weekly trading range. The longer-term, monthly volatility is currently slightly higher than usual for AAP.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
Selling might accelerate should prices move below the close-by swing low at 145.95 where further sell stops could get activated.