The Greedy Trader Weekly Analysis
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Uptrend Exhaustion

Uptrend Exhaustion stock alert presents a technical analysis stock market picking technique based on combination of technical indicators, stock trend analysis, trend following indicators and pattern recognition. Stock market alert is a warning signal. Uptrend Exhaustion alert indicates that long term uptrend is exhausted and probability of long term trend reversal is high. Uptrend exhaustion stock market alert presents relatively low to medium risk - high reword stock pick for overvalued stocks.

The strategy is based on selling (or taking a short) position on anticipation of uptrend reversal.

Uptrend Exhaustion

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- 3/15/2024 -
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Advance Auto Parts (AAP) Technical Analysis

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Summary:
Weekly :Broken uptrend resistance line - uptrend exhaustionWilliams' Percentage Range is strongly overbought
Daily :Williams' Percentage Range is overboughtRelative Strength Index and Lane's Stochastic are strongly overbought
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It was a third consecutive positive week for the Advance Auto Parts (AAP). During the week, the AAP gained 8.69 points, or 11.89%, and closed at 81.77 on Friday, March 15, 2024. Weekly volume was 54% above average.

Long-term trend: [See AAP long-term trend chart]
A long-term downtrend had started on January 5, 2022 at 244.55 and reached 47.73 on October 25, 2023. AAP lost 196.82 points, or 80.48%, in 94 weeks. The price is now at the 17.29% retracement level.

Medium-term trend: [See AAP medium-term trend chart]
A medium-term uptrend had started on October 25, 2023 at 47.73 and reached 81.88 on March 15, 2024. AAP gained -34.15 points, or -71.55%, in 20 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (62.99) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a medium-term trend.

Weekly Technical Indicators: [See AAP weekly technical indicators chart]
Weekly Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought Williams' Percentage Range. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Williams' Percentage Range help.

The weekly MACD line is above its signal line since August 11, 2023. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.

Short-term trend: [See AAP short-term trend chart]
A short-term uptrend had started on February 26, 2024 at 60.19 and reached 81.88 on March 15, 2024. AAP gained -21.69 points, or -36.04%, in 18 days. Price is near the trend high.

Daily Technical Indicators: [See AAP daily technical indicators chart]
Daily Williams' Percentage Range is overbought while Relative Strength Index and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range or strongly overbought daily Relative Strength Index and Lane's Stochastic. Use the following links to access Lane's Stochastic and Relative Strength Index help.

The daily MACD line is above its signal line since February 28, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current short-term uptrend is strong.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 93.01
Strong Overbought
Williams' Percentage Range (W%R) 13.60
Overbought
Lane's Stochastic (%D-Slow) 93.38
Strong Overbought
Greed/Fear Indicator (GFI) 90.92
Strong Overbought
Moving Average Converg./Diverg. (MACD) 2.87
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 78.28
Williams' Percentage Range (W%R) 8.70
Strong Overbought
Lane's Stochastic (%D-Slow) 68.27
Greed/Fear Indicator (GFI) 75.17
Moving Average Converg./Diverg. (MACD) -4.18
Trading Signals
Description Value Chart
Upper Bollinger Band 85.74
Price 81.77
Daily Stochastic Crossing 80.98
Parabolic System 76.42
Weekly Stochastic Crossing 75.13
Quarterly Trendline Resistance 74.46
20 Day Moving Average 69.70
50 Day Moving Average 66.48
Lower Bollinger Band 58.23
Sector and Industry
Description Name Rank
Sector Consumer Discretionary 7
Industry Automotive Retail 103
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 60.19
Low Date 02/26/2024
High 81.88
High Date 03/15/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 60.19
Low Date 02/26/2024
High 81.88
High Date 03/15/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 60.19
Low Date 02/26/2024
High 81.88
High Date 03/15/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 74.46
Support 62.99
Low 47.73
Low Date 10/25/2023
High 81.88
High Date 03/15/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 244.55
High Date 01/05/2022
Low 47.73
Low Date 10/25/2023
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.