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Bullish Moving Average Cross by Advance Auto Parts (AAP)

By David Diaz

Today, shares of Advance Auto Parts (NYSE:AAP) have crossed bullishly above their 10-day moving average of $148.69 on a volume of 153K shares. Swing traders may find an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

Over the past year, Advance Auto Parts has traded in a range of $131.59 to $201.24 and is now at $149.11, 13% above that low. 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 7.6%. 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