The Greedy Trader Weekly Analysis
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Monthly Price vs. Fibonacci:Near 38.2% retracement level
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Stock market trading indicator and technical analysis stock screen presents technical stock market timing signals for technical investment analysis like screen stochastic or moving average trading system.. Screen includes following popular indicators and trading systems: Relative Strength Index (RSI), Williams' Percentage Range (W%R) and Lane's Stochastic (%D–Slow), moving average, macd convergence divergence, bullish and bearish divergence. For the best result different technical indicators should be analyzed in different time frames together with trend analysis, sector/industry ranking and stock timing alerts.

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- 5/10/2024 -
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Advance Auto Parts (AAP) Technical Analysis

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Summary:
Weekly :Oversold sector
Daily :Daily  MACD line has moved above its signal lineBearish Dark Cloud Cover CandlestickThe price has declined below the moving average in the center of the Bollinger BandsThe period of low volatility of the stock price
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It was the negative week for the Advance Auto Parts (AAP). During the week, the AAP dropped -1.28 points, or -1.68%, and closed at 75.03 on Friday, May 10, 2024. Weekly volume was -63% below average.

AAP is a member of Consumer Discretionary Sector. Consumer Discretionary is the second most oversold 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 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 13.87% 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 68.82 on April 16, 2024. AAP lost 19.74 points, or 22.29%, in 3 weeks. The chart has formed a Symmetric Triangle chart pattern. The trend support level is at 76.53 and resistance is at 73.31. A Symmetric Triangle pattern represents the area of indecision, where the movement direction is questioned. Chart pattern analysis usually considers a symmetric triangle chart pattern as a continuation formation which resolves in the direction of larger trend, but it also may mark the trend reversal. Use the following link to access a Symmetric Triangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Symmetric Triangle pattern in a medium-term trend.

Weekly Technical Indicators: [See AAP weekly technical indicators chart]
Weekly technical indicators are neutral.

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 April 25, 2024 at 71.82 and reached 77.39 on May 3, 2024. AAP gained -5.57 points, or -7.76%, in 8 days. The price is now at the 42.37% retracement level.

Daily Technical Indicators: [See AAP daily technical indicators chart]
Daily technical indicators are neutral.

During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.

During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The distance between the Bollinger Bands is falling, and it was 10.88% on Friday. It is 56.77% lower than one year average. It indicates the period of low volatility of the stock price. 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.

Candlestick pattern: [See AAP candlestick chart pattern]
On Friday the chart has formed a Bearish Dark Cloud Cover Candlestick pattern. Bearish Dark Cloud Cover pattern is a trend reversal indicator which signifies the end of an uptrend and the start of a downtrend. The reliability of the Bearish Dark Cloud Cover pattern is considered a highly reliable pattern of market reversalUse the Technical Stock Screener to see the list of stocks that had a Bearish Dark Cloud Cover Candlestick pattern during the last week.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 42.88
Williams' Percentage Range (W%R) 30.80
Lane's Stochastic (%D-Slow) 47.81
Greed/Fear Indicator (GFI) 53.31
Moving Average Converg./Diverg. (MACD) -0.62
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 55.73
Williams' Percentage Range (W%R) 42.60
Lane's Stochastic (%D-Slow) 47.28
Greed/Fear Indicator (GFI) 53.71
Moving Average Converg./Diverg. (MACD) 1.20
Trading Signals
Description Value Chart
Upper Bollinger Band 79.59
Weekly Stochastic Crossing 77.76
50 Day Moving Average 77.58
Parabolic System 77.12
Monthly Trendline Support 76.53
Daily Stochastic Crossing 75.11
Price 75.03
20 Day Moving Average 74.99
Monthly Trendline Resistance 73.31
Lower Bollinger Band 71.43
Sector and Industry
Description Name Rank
Sector Consumer Discretionary 2
Industry Automotive Retail 64
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 72.74
Low Date 05/01/2024
High 77.39
High Date 05/03/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 71.82
Low Date 04/25/2024
High 77.39
High Date 05/03/2024
Description Value
Direction Down
Chart Pattern Symmetric Triangle
Status Valid
Resistance 73.31
Support 76.53
High 88.56
High Date 03/21/2024
Low 68.82
Low Date 04/16/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 47.73
Low Date 10/25/2023
High 88.56
High Date 03/21/2024
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.