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three auto parts stocks ready to put the pedal to the metal

by:ShenHao     2020-06-10
The three names in the auto parts sector, after months of falling prices, have been integrating prices on the daily chart, with technical indications that they are preparing to break the resistance mentioned above.
Along with these initiatives are improvements in transaction volume and positive capital flows, which have the potential to reverse previous downward trends and accelerate price increases.
Advance Auto Parts shares (AAP -Get Report)
With the support of this $169 crash.
Area 00 and its 50-
Earlier this year, the daily moving average began to decline steadily.
In April, they started a process of building the foundation and formed a rounded bottom on the daily chart.
Last week, the resistance level crossed at $148.
Level 00 and down 50-
The daily moving average made a decisive breakthrough.
The daily moving average convergence/divergence covers the weekly histogram of the oscillator and moves above its center line on both time frames, with the relative strength index rising 21-
Cycle moving average.
Overall volume has picked up, with Chaikin cash flow showing that the stock has been accumulating in the second half of the consolidation.
AAP is a long candidate for the current level, using initial percentage stop loss under resistance-turned-support line.
Horizontal channel integration is underway on Johnson Control\'s daily chart (JCI -Get Report)
In the last four months
The continued compression of prices slows down the momentum indicator, and while overall volume has improved, the cumulative/distribution lines have been fluctuating around flat signal averages.
5th day of this month 0-and 200-
The daily moving average provided support in the upper half of the channel range, with stocks up nearly 2% in Friday\'s trading and closing at channel resistance.
This is after buying an upper.
The candle is closed, using a position size to hold an initial stop loss under the relationship supported by the moving average line, taking out the intersection downward trend line and horizontal resistance line.
Genuine part (GPC -Get Report)
On the daily chart, you can see that stock prices have been integrated in a complex and larger integration pattern in a small triangle pattern in the past month.
Hammer candles formed in the plate last Friday supported above $91.
00 and below the middle-
Long term down trend line and down 50-
Daily moving average.
The retest of this resistance is driven by a peak volume of 200% larger than 50-
The daily moving average of trading volume is equivalent to or greater than the volume that accompanied the decline in October 2016 and the rebound in November of the same year.
The generalized forecast is a long-term candidate following the closing of another candle, which closes with an initial percentage stop loss below $91 to remove resistance. 00 branch line.
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