Market Overview

The Technical Take: Advanced Auto Parts Sharply Higher Off Q3 Beat

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Advanced Auto Parts, Inc. (NYSE: AAP) shares are trading higher by $23.95 (16 percent) at $166.85 in Tuesday's session. The catalyst for the rally is a Q3 beat of a penny along with a slight beat for revenues.

After a higher open, it had a quick decline to $161.53 before resuming its move higher. It has continued to make highs for the session with the current one standing at $166.90.

That high is above its August 16 high ($165.40), but still well shy of its August 15 high ($169.90).

The all-time-high for the issue was made in November 2015 at $201.24. However, it weakened by the end of that month to close at $162.73.

Posted-In: Technicals Intraday Update Movers Trading Ideas

 

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