$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.
