AI
Friday, May 24, 2019 6:57:43 PM
$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
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
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