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Downtrend Broken Resist.Archive
- 12/13/2024 -
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Advance Auto Parts (AAP) Technical Analysis
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| Summary:
| | Weekly :   | | Daily :
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| | It was the negative week for the Advance Auto Parts (AAP). During the week, the AAP dropped -1.11 points, or -2.47%, and closed at 43.86 on Friday, December 13, 2024. It was the worst weekly loss since October 25, 2024. Weekly volume was 28% above average.
AAP is a member of Consumer Discretionary Sector. Consumer Discretionary is the second most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 Long-term trend: [See AAP long-term trend chart]
A long-term downtrend had started on March 21, 2024 at 88.56 and reached 35.59 on October 31, 2024. AAP lost 52.97 points, or 59.81%, in 32 weeks. The chart has formed a Falling Channel chart pattern. The downtrend resistance line (26.47) is broken. A broken support is considered to be a long-term bullish signal. 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 long-term trend.
 Medium-term trend: [See AAP medium-term trend chart]
A medium-term uptrend had started on October 31, 2024 at 35.59 and reached 48.95 on December 9, 2024. AAP gained -13.36 points, or -37.54%, in 5 weeks. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level.
 Weekly Technical Indicators: [See AAP weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is above its signal line since November 22, 2024. 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 November 15, 2024 at 37.41 and reached 48.95 on December 9, 2024. AAP gained -11.54 points, or -30.85%, in 24 days. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend support line (45.03) is broken. A broken support is considered to be a long-term bearish signal. 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 support in a short-term trend.
Daily Technical Indicators: [See AAP daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is above its signal line since November 1, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.
During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
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