This stock is already in a fine position to start a new trade. My entry was based on the RSI connors. stop 5% below, target 5% above . in the last year this strategy had 76% of win% .
AAP, offers a little variation of the same system . It does have his CRSI below 30. but it hasn't met the 4 days criteria of decreasing closes... when this occurs, we have a lower winning trades. In this stock, in the last 4 years we do have a 64,81% of winning trades. with 54 trades being taken. the system is better for abov U$100,00 price per share. since we do...
AAP is trading in a very strong uptrend, and last week price breaks another resistence and did new hights.
This trend will continue, and now is a nice moment to open a long position.
Introduction
From this chart, we can conclude that many traders have lost their money, but of course we will not because we are willing to wait for a good opportunity to make money.
When we look at the long term we see that this is a growing uptrend.
Conclusion
Your future targets and TP you can set yourself.
In any case, short SELL.
I would like to ask visitors...
$AAP - Watch for breakout here. Breaking descending TL w/volume Friday. See notes on chart on an island reversal as well. Strong recent PVE November and February
AAP looks good for entry once stochastics setup on 60 minute and move to lower trendline - Possible flag breakout scenario. Possible 2 point gain depending on market conditions.
