Trading Idea for Advance Auto Parts Inc. (NYSE)

#AAP

The overall trend is upward. The stock is trading in the range of 365 and 135 moving averages. The price pivot zone of 187.0 deters sellers.  Awesome Oscillator shows bullish divergence, while Stochastic Oscillator signals oversold conditions.

Trading idea:

Buy when ascending pattern 1-2-3, where wave 1 breaks through the upper limit of the descending price channel.

Stop loss under the price pivot zone of 187.0.

Target level: 210.0.