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AAP Autoparts Retailer Retraces and Reverses down SHORT
Advance Auto Parts Inc.
Short
AAP Autoparts Retailer Retraces and Reverses down SHORT
By AwesomeAvani
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Updated
Mar 25
2
Cheer
Cheer
Mar 22
AAP on a 240 minute chart has completed a Fibonacci retracement of the previous trend down
which covered April to October 2023. Support was retested for a month or so. The retracement
starting in December is now to the standard level and price is being rejected there. The faster
RSI topped out at 65 while the slower RSI line ( black ) never got over 50. As an aside,
AAP is weak compared with AZO, its peer and leader in the market sector. I am looking for
stocks to short to get synergy from and general market downturns. I have found one. This short
trade is supported by the predictive algorithm of LuxAlgp.
Mar 25
Trade active
Price fell but not enough to adjust the stop loss yet. Holding and watching.
Mar 25
Comment
Price fell; stop loss adjusted to break-even now a risk free trade.
aap
AZO
Centered Oscillators
Fibonacci
Fibonacci Retracement
oreilly
predictivealgorithms
Support and Resistance
supportandresistancezones
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