The Greedy Trader Weekly Analysis
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Daily W%R:> 90
Number of records: 10
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Williams' Percentage Range (W%R)

Williams' %R is an effective momentum indicator that measures overbought/oversold levels. Like other indicators, W%R ranges between 0% and 100% , but in opposite to the other indicators, the 0% indicating overbought and 100% - the oversold stocks. W%R measures the closing price in relation to the recent low/high range. A bullish signal is generated when the W%R has reached 100, five time bars have elapsed, and the W%R has subsequently fallen to 95. A reverse signal is considered as bearish. For the sake of simplicity, the W%R closed above 10% is considered bearish and below 90% - bullish. In trending markets, the W%R stays at one end of the scale and gives false signals to trade against the trend. That is why W%R is not considered a stand-along technique, and it is essential to use it with some sort of trend formation indicators. The divergence between price and W%R rarely occurs and presents an important buy/sell signal. As our research shows, the W%R move to upper or lower bounds can be used as an earliest signal of an impending reversal. Using the Williams %R bullish divergence/bearish divergence, chart patterns, trendlines, support, and resistance lines along with the W%R chart can be very useful.

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- 9/15/2023 -
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Advance Auto Parts (AAP) Technical Analysis

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Summary:
Weekly :Williams' Percentage Range is oversold
Daily :Lane's Stochastic is oversold
Move cursor over the icon to see details.

It was the negative week for the Advance Auto Parts (AAP). During the week, the AAP dropped -4.79 points, or -7.41%, and closed at 59.82 on Friday, September 15, 2023. Weekly volume was 83% 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 56.40 on September 13, 2023. AAP lost 188.15 points, or 76.94%, in 88 weeks. Price is near the trend low.

Medium-term trend: [See AAP medium-term trend chart]
A medium-term downtrend had started on July 31, 2023 at 74.70 and reached 56.40 on September 13, 2023. AAP lost 18.30 points, or 24.50%, in 6 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 55.98 and resistance is at 67.62. A Broadening Descending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a medium-term trend.

Weekly Technical Indicators: [See AAP weekly technical indicators chart]
Weekly Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with weekly strongly oversold 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. The distance between MACD and the signal line is low and getting smaller. 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 September 13, 2023 at 56.40 and reached 61.10 on September 15, 2023. AAP gained -4.70 points, or -8.33%, in 2 days. The price is now at the 27.23% retracement level.

Daily Technical Indicators: [See AAP daily technical indicators chart]
Daily Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Lane's Stochastic. Use the following link to access Lane's Stochastic help.

The daily MACD line is below its signal line since September 6, 2023. The distance between MACD and the signal line is low, but getting bigger.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 39.81
Williams' Percentage Range (W%R) 69.40
Lane's Stochastic (%D-Slow) 12.84
Oversold
Greed/Fear Indicator (GFI) 27.73
Moving Average Converg./Diverg. (MACD) -2.19
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 45.48
Williams' Percentage Range (W%R) 93.50
Strong Oversold
Lane's Stochastic (%D-Slow) 31.12
Greed/Fear Indicator (GFI) 27.18
Moving Average Converg./Diverg. (MACD) -18.89
Trading Signals
Description Value Chart
Upper Bollinger Band 72.15
50 Day Moving Average 68.74
Quarterly Trendline Resistance 67.62
20 Day Moving Average 65.19
Parabolic System 64.19
Weekly Stochastic Crossing 60.89
Price 59.82
Daily Stochastic Crossing 58.22
Lower Bollinger Band 57.06
Quarterly Trendline Support 55.98
Sector and Industry
Description Name Rank
Sector Consumer Discretionary 5
Industry Automotive Retail 16
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 56.40
Low Date 09/13/2023
High 61.10
High Date 09/15/2023
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 56.40
Low Date 09/13/2023
High 61.10
High Date 09/15/2023
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 69.76
High Date 08/31/2023
Low 56.40
Low Date 09/13/2023
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Valid
Resistance 67.62
Support 55.98
High 74.70
High Date 07/31/2023
Low 56.40
Low Date 09/13/2023
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 244.55
High Date 01/05/2022
Low 56.40
Low Date 09/13/2023
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.