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- 7/19/2024 -
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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 -3.30 points, or -5.24%, and closed at 59.62 on Friday, July 19, 2024. Weekly volume was -39% below average.
AAP is a member of Consumer Discretionary Sector. Consumer Discretionary is the second most oversold sector. AAP is a member of Automotive Retail Industry. Automotive Retail is the second most oversold industry. 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 uptrend had started on October 25, 2023 at 47.73 and reached 88.56 on March 21, 2024. AAP gained -40.83 points, or -85.54%, in 21 weeks. The price is now at the 70.88% retracement level.
 Medium-term trend: [See AAP medium-term trend chart]
A medium-term downtrend had started on March 21, 2024 at 88.56 and reached 57.83 on July 9, 2024. AAP lost 30.73 points, or 34.70%, in 15 weeks. The chart has formed a Falling Wedge chart pattern. The price is near the trend resistance line (59.53). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a medium-term trend.
 Weekly Technical Indicators: [See AAP weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Williams' Percentage Range and Lane's Stochastic. 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 links to access Lane's Stochastic and Williams' Percentage Range help.
The weekly MACD line is below its signal line since May 24, 2024. This is an indication that the medium-term trend is down. 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 July 9, 2024 at 57.83 and reached 64.92 on July 17, 2024. AAP gained -7.09 points, or -12.26%, in 8 days. The price is now at the 74.75% retracement level.
 Daily Technical Indicators: [See AAP daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is above its signal line since July 10, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term uptrend is getting stronger.
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.
During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
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