AAPLow MACD below 0, bullish divergence , bull pattern penetrated upper level. In some Dec 20 calls , strike $60 for 0.50 ea.
AWN trade ideas
$AAP Advance Auto Parts drives higher.Entry level $171 = Target price $182 = Stop loss $167
Advance autos had been flagged as a possible hot stock by means of its indicators tuning in a bullish fashion and the impending golden cross on the moving averages.
The stock is very close to its current average analysts price target, so more upgrades like that by UBS yesterday are likely to follow.
Company profile
Advance Auto Parts, Inc. engages in the supply and distribution of aftermarket automotive products for both professional installers and do-it-yourself customers. It offers replacement parts, performance parts, accessories, oil and fluids, engine parts, brakes, batteries, accessories, and tools and garage. The company was founded by Arthur Taubman in 1929 and is headquartered in Raleigh, NC.
$AAP Advance Auto carries good momentum into earnings.Todays earnings report from NYSE:AZO was bullish as we expected and the stock has moved considerably higher, our expectations are very much the same for NYSE:AAP whom report tomorrow before the bell. In our last analysis we had hoped for a breakout above $183 which failed but this remains our breakout level which will soon be tested once again. Despite falling below the crucial MA's support the stock is rallying once again on high volume with a nice reset in the RSI and Stoch, they MACD is negative but a cross is imminent.
This we think is a long term winner and a pretty secure long into earnings.
AVERAGE PRICE TARGET $194
AVERAGE RECOMMENDATION OVERWEIGHT
ADVANCE AUTO PARTS INC.
Advance Auto Parts, Inc. engages in the supply and distribution of aftermarket automotive products for both professional installers and do-it-yourself customers. It offers replacement parts, performance parts, accessories, oil and fluids, engine parts, brakes, batteries, accessories, and tools and garage.
$AAP ADVANCE AUTO PARTS AT CRUCIAL LEVELAdvance auto parts is looking poised for a breakout, we are looking for a price above $185 for a possible entry leading to a nice inverse H&S pattern. AAP has lagged behind competitors like Autozone in price action whom has already broken out. Patience will bring rewards.
Don't thank me. For those who likes to learn new EWA tricksThis is one of the Nasdaq stocks.
A lot of people simply does not know this tool - LOG scale
The chart shows a perfect channel for the waves 1-2-3-4
JUST COMPARE WAVE 4 ON A REGULAR CHART AND YOU WILL SEE WHERE SHOULD YOU START TRADING WAVE 5
AAP Approaching Support, Potential Break out!AAP is approaching its support at 153.97 (channel support) where if broken, will trigger a further move down to its next support at 144.73 (38.2% Fibonacci retracement, horizontal pullback support).
RSI shows that price has broken out of its ascending support-turned-resistance line which contributes to our bearish bias.
Short/Puts AAPEngulfing red outside
MACD confirmed downtrend
Stoch fast line heading lower
OCt 29 lower high
Sep 21/Oct 16 double top
Double top...she gotta drop!
Gap to fil
Aug 13/2018
Was gap and go, now reverting/retest
Price consolidation before breakout/down
T/P 147.84
S/L 166.71
R/R 1.79
Profit Trading
Bearish BatGreat looking bearish bat with good looking bearish divergence on the volume weighted MACD, and price has reacted well to the PRZ (orange box). I am looking at the March 2019 (I might also be looking as soon as December), just out of the money, puts. They look incredible right now! Setting the stop loss of 35% on my position when I open it tomorrow, and my target price is around $120. I'll update as the position unfolds...
