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Bearish Moving Average Cross by Advance Auto Parts (AAP)

By David Diaz

Advance Auto Parts (NYSE:AAP) shares have crossed bearishly below their 10-day moving average of $142.85 on a volume of 150K shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.

Advance Auto Parts share prices have moved between a 52-week high of $201.24 and a 52-week low of $131.59 and are now trading 7% above that low price at $141.27 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 0.3%.

SmarTrend recommended that its subscribers protect gains by selling shares of Advance Auto Parts on August 17th, 2016 by issuing a Downtrend alert when the shares were trading at $158.67. Since that call, shares of Advance Auto Parts have fallen 9.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses Advance Auto Parts

Ticker(s): AAP