AAP Autoparts Retailer Retraces and Reverses down SHORTAAP 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.
