Advanced Auto Parts (AAP) – Bullish DailyPlay for Wednesday Sept 12th, 2018
The bullish DailyPlay we chose for Wednesday Sept 12th is Advanced Auto Parts (AAP). AAP is part of the Consumer Discretionary Sector (XLY). Over the last month, XLY has experienced a 3.74% move higher and its 1m and 6m trend has turned bullish on 8/16 and recently bounced higher off its $115 support level.
Advanced Auto Parts” 1m and 6m trends turned bullish on 8/2 and recently bounce higher off its $162 support level. With a technical score of 10 (out of 10), AAP is a strong bullish stock that will likely continue higher.
As a stop loss, if AAP was to trade below $165 for multiple days, this would invalidate our analysis and suggest getting out of the trade.
Upcoming Event: Credit Spread Strategy using Weekly Index Options – Thurs 9/13 @ 4:15PM EST