AAP shortI struggle to formulate why but the picture is bearish. Maybe because of MAs.
Again nothing speaks for the downside move. Company is healthy and undervalued.
Still, I will give it a try with October put options.
AAP trade ideas
$AAP Advance Auto carries good momentum into earnings.Todays earnings report from NYSE:AZO was bullish as we expected and the stock has moved considerably higher, our expectations are very much the same for NYSE:AAP whom report tomorrow before the bell. In our last analysis we had hoped for a breakout above $183 which failed but this remains our breakout level which will soon be tested once again. Despite falling below the crucial MA's support the stock is rallying once again on high volume with a nice reset in the RSI and Stoch, they MACD is negative but a cross is imminent.
This we think is a long term winner and a pretty secure long into earnings.
AVERAGE PRICE TARGET $194
AVERAGE RECOMMENDATION OVERWEIGHT
ADVANCE AUTO PARTS INC.
Advance Auto Parts, Inc. engages in the supply and distribution of aftermarket automotive products for both professional installers and do-it-yourself customers. It offers replacement parts, performance parts, accessories, oil and fluids, engine parts, brakes, batteries, accessories, and tools and garage.
Advanced Auto PartsThis one printed a hammer on Friday with larger volume coming in. Looks like the third touch of an upper trend line depending how you draw it. Watch for earnings on May 22 before market open though.
Berish ButterflyInteresting setup; on watch for next week, make take a long if there is a reversal trigger!
$AAP ADVANCE AUTO PARTS AT CRUCIAL LEVELAdvance auto parts is looking poised for a breakout, we are looking for a price above $185 for a possible entry leading to a nice inverse H&S pattern. AAP has lagged behind competitors like Autozone in price action whom has already broken out. Patience will bring rewards.
AAP - watching for close above 50DMABeautiful setup from Friday into today. Watching for that close above 50DMA. AZO has had a nice run as well.
Don't thank me. For those who likes to learn new EWA tricksThis is one of the Nasdaq stocks.
A lot of people simply does not know this tool - LOG scale
The chart shows a perfect channel for the waves 1-2-3-4
JUST COMPARE WAVE 4 ON A REGULAR CHART AND YOU WILL SEE WHERE SHOULD YOU START TRADING WAVE 5
AAP: Short term, high risk reward play.Prices marked clearly. Personally I will open this position tomorrow:
Mar 15th: 150 Puts
Advance Auto Parts, Inc.H4
ascending channel
if going long
breakout from the upper trendline
initial support at 151.46
it's aapOn the competitor side of Genuine Parts co . it’s advantage auto parts and this is more interesting to see on the daily chart; let’s see what this could do before Tuesday morning and after the report
$AAP. Looks good from here. healthy move out of a choppy downtrend. Potential double bottom reversal.
AAP Approaching Support, Potential Break out!AAP is approaching its support at 153.97 (channel support) where if broken, will trigger a further move down to its next support at 144.73 (38.2% Fibonacci retracement, horizontal pullback support).
RSI shows that price has broken out of its ascending support-turned-resistance line which contributes to our bearish bias.
AAP gains in a tough tapeAAP shares saw a massive breakout on big volumes. This + a strong sector is bullish for the name.
Short/Puts AAPEngulfing red outside
MACD confirmed downtrend
Stoch fast line heading lower
OCt 29 lower high
Sep 21/Oct 16 double top
Double top...she gotta drop!
Gap to fil
Aug 13/2018
Was gap and go, now reverting/retest
Price consolidation before breakout/down
T/P 147.84
S/L 166.71
R/R 1.79
Profit Trading
Bearish BatGreat looking bearish bat with good looking bearish divergence on the volume weighted MACD, and price has reacted well to the PRZ (orange box). I am looking at the March 2019 (I might also be looking as soon as December), just out of the money, puts. They look incredible right now! Setting the stop loss of 35% on my position when I open it tomorrow, and my target price is around $120. I'll update as the position unfolds...
$AAP Advance Auto - Overbought at Resistance$AAP Advance Auto - Looking overbought meeting resistance just above $165 today. Expecting a retrace in the near/medium term, targeting mid-140s.
AAP- Strong BuyAAP is near a monthly high now. If it break and sustain above 138 then we can see 152-175 till end of this month. Monthly chart is very strong,so we can accumulate above 138 and can add more if pullback happens near 130-135 levels.
