(AAP) Investment Analysis and Advice

June 08, 2024, 14:46 pm ET, BY Jolene W.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for AAP

• Buy AAP slightly over 59.17 target 70.59 stop loss @ 59 Details

The technical summary data tells us to buy AAP near 59.17 with an upside target of 70.59. This data also tells us to set a stop loss @ 59 to protect against excessive loss in case the stock begins to move against the trade. 59.17 is the first level of support below 64.58 , and by rule, any test of support is a buy signal. In this case, support 59.17 would be being tested, so a buy signal would exist.

• Short AAP slightly under 70.59, target 59.17, stop loss @ 70.79 Details

The technical summary data is suggesting a short of AAP as it gets near 70.59 with a downside target of 59.17. We should have a stop loss in place at 70.79though. 70.59 is the first level of resistance above 64.58, and by rule, any test of resistance is a short signal. In this case, if resistance 70.59 is being tested, so a short signal would exist.

Swing Trading Plans for AAP

• Buy AAP slightly over 66.4, target 70.59, Stop Loss @ 66.21 Details

If 66.4 begins to break higher, the technical summary data tells us to buy AAP just slightly over 66.4, with an upside target of 70.59. The data also tells us to set a stop loss @ 66.21 in case the stock turns against the trade. 66.4 is the first level of resistance above 64.58, and by rule, any break above resistance is a buy signal. In this case, 66.4, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short AAP slightly near 66.4, target 62.28, Stop Loss @ 66.59. Details

The technical summary data is suggesting a short of AAP if it tests 66.4 with a downside target of 62.28. We should have a stop loss in place at 66.59 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 66.4, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for AAP

• Buy AAP slightly over 66.4, target 70.59, Stop Loss @ 66.25 Details

If 66.4 begins to break higher, the technical summary data tells us to buy AAP just slightly over 66.4, with an upside target of 70.59. The data also tells us to set a stop loss @ 66.25 in case the stock turns against the trade. 66.4 is the first level of resistance above 64.58, and by rule, any break above resistance is a buy signal. In this case, 66.4, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short AAP slightly near 66.4, target 64.36, Stop Loss @ 66.55. Details

The technical summary data is suggesting a short of AAP if it tests 66.4 with a downside target of 64.36. We should have a stop loss in place at 66.55 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 66.4, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Check the time stamp on this data. Updated AI-Generated Signals for Advance Auto Parts Inc. (AAP) available here: AAP.

AAP Ratings for June 08:

Term →	Near	Mid	Long
Rating	Weak	Weak	Strong
P1	0	0	59.17
P2	62.34	62.28	70.59
P3	64.36	66.4	82.34

AI Generated Signals for AAP

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Prudent Investment Analysis requires observations of the support and resistance levels for Advance Auto Parts Inc. (NYSE: AAP) too.  These define prudent trading plans.

Warning:

This is a static report, the data below was valid at the time of the publication, but support and resistance levels for AAP change over time, so the report should be updated regularly.  Real Time updates are provided to subscribers.  Unlimited Real Time Reports.

Subscribers also receive market analysis, stock correlation tools, macroeconomic observations, timing tools, and protection from market crashes using Evitar Corte.  

Instructions:

The rules that govern the data in this report are the rules of Technical Analysis.  For example, if AAP is testing support buy signals surface, and resistance is the target.  Conversely, if resistance is being tested, that is a sign to control risk or short, and support would be the downside target accordingly.  In each case, the trigger point is designed to be both an ideal place to enter a position (avoid trading in the middle of a trading channel), and it acts as a level of risk control too.

Swing Trades, Day Trades, and Longer term Trading Plans:

This data is refined to differentiate trading plans for Day Trading, Swing Trading, and Long Term Investing plans for AAP too.  All of these are offered below the Summary Table.