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Downtrend ResistanceArchive
- 4/5/2024 -
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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 -7.75 points, or -9.11%, and closed at 77.34 on Friday, April 5, 2024. Weekly volume was -30% below 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 15.04% 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 88.56 on March 21, 2024. AAP gained -40.83 points, or -85.54%, in 21 weeks. The chart has formed a Rising Channel chart pattern. The price is near the trend resistance line (76.80). 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 Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic. During the last week, weekly Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal. 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 Lane's Stochastic 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. The distance between MACD and the signal line is relatively high, but getting smaller. It indicates that the current medium-term uptrend is still strong, and momentum is beginning to wane. Use the following link to access a MACD help.
Short-term trend: [See AAP short-term trend chart]
A short-term downtrend had started on March 21, 2024 at 88.56 and reached 76.78 on April 5, 2024. AAP lost 11.78 points, or 13.30%, in 15 days. Price is near the trend low.
 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.
During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.
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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