NYSE:AAP   Advance Auto Parts Inc Advance Auto Parts Inc W/I
105 views
6
Earnings today after market closes.

Bull flag is getting a bit long for the pole at this point and hoping the candle formation today does not take this one down for another test. There is a pocket pivot but it is well below price right now so the closest support is the bottom trendline of the flag. If price slows down there could be support at the bottom of that green candle that the red candle is trying to devour right now )o:

I would imagine if this beats today, it could bust the pattern and break the upper trendline of flag with conviction. Or they could beat earnings and still go down. Anyway, Zack says it is a buy if that means anything. They have earning misses in their history including a miss on EPS last quarter. Risky.

Dark cloud cover today which can be ominous but not always. Dark cloud cover ( DCC ) is a 2 candle pattern with the 1st candle being a good sized green candle. The close is at the top of the green candle body. The top of the wick is the high that day and is the same for both red and green candles as well as the bottom shadow being the low for that period. The green candle is followed by a red candle that opens (top of red candle is the open) higher than the previous green candle close but the bulls are unable to hold on and the close (bottom of red candle) is down in to the body of the green candle. It is worse if the red candle totally swallows or engulfs the green candle )o: Right this second, price is down to the open on yesterday. Earnings if received well, can change a candle pattern and candles often affect price short term or not at all. Some candles are stronger than others as well.


I suppose it is not unusual for folks to sell when earnings are due to avoid the market reaction. Today seems to be a struggle day for some, and a good day for others.

It is risky to buy at earnings . I have risked it before on certain securities, but try to avoid FOMO (fear or missing out) It is tough to make decisions like a buy at earnings and no one can make it but me. I can only look at what is in front of me and use the common sense God gave me, but I have trouble finding it sometimes. Common sense is not my strong point. LOL Neither is patience, but being patient can be a gift in the markets for sure (o:

No recommendation.

When opportunity presents itself, it is often too late to prepare.

Comment: OOPS. Earnings were this morning

Comments