Advance Auto Parts Inc.Panjang
Advanced Auto Parts | AAP | Long at $64
Advanced Auto Parts AAP has gone through an exquisite shakeout of shareholders. Currently trading near $64, the stock is currently testing my "stock crash" simple moving average (seen green SMA lines). From a technical analysist standpoint, it's in a personal buy zone. This stock has tested this simple moving average level a few times in the past and recovered very well. Will history repeat?
Target #1 = $88.00
Target #2 = $110.00
AAP has gone through an exquisite shakeout of shareholders. Currently trading near $64, the stock is currently testing my "stock crash" simple moving average (seen green SMA lines). From a technical analysist standpoint, it's in a personal buy zone. This stock has tested this simple moving average level a few times in the past and recovered very well. Will history repeat?Target #1 = $88.00
Target #2 = $110.00
Nota
Despite the -20% drop post earnings, the bounce today was off the low end of the green SMA pictured in the original analysis. Perhaps there is a double bottom forming with the news AAP is selling Worldpac to Carlyle Group for $1.5 billion. Still bullish, despite the headwinds. Position added to at $51.00.Nota
Additional and final position added at $38.00 with average holdings now near $46. No further entries will be opened. Bought and hold, now...
Penafian
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