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After Yesterday's Rally of 1.03% Shares Could Potentially Pullback

By James Quinn

Advance Auto Parts (NYSE:AAP) traded in a range yesterday that spanned from a low of $164.20 to a high of $165.85. Yesterday, the shares gained 1.0%, which took the trading range above the 3-day high of $164.61 on volume of 180,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

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 26% above that low price at $165.68 per share. The 200-day and 50-day moving averages have moved 0.18% lower and 0.34% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Advance Auto Parts on May 25th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $151.57. Since that recommendation, shares of Advance Auto Parts have risen 8.3%. We continue to monitor AAP for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders Advance Auto Parts

Ticker(s): AAP