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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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Advanced TA SearchArchive - 4/26/2024 - Sign In to see current Signals. |
Advance Auto Parts (AAP) Technical Analysis
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| Summary:
| | Weekly : | | Daily : 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 -3.55 points, or -4.51%, and closed at 75.14 on Friday, April 26, 2024. Weekly volume was -42% 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 13.93% 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 Broadening Descending Wedge chart pattern. The trend support level is at 60.79 and resistance is at 77.73. 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 technical indicators are neutral. The weekly MACD line is above its signal line since August 11, 2023. 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 16, 2024 at 68.82 and reached 79.41 on April 22, 2024. AAP gained -10.59 points, or -15.39%, in 6 days. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level. Daily Technical Indicators: [See AAP daily technical indicators chart] Daily technical indicators are neutral. The daily MACD line is below its signal line since March 28, 2024. The distance between MACD and the signal line is low and getting smaller. 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. During the last week, the price has crossed below the 50 Day Moving Average. Such crossover is considered a bearish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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