Aap looking bullish Aug 21 2024Aap is looking good at current price. You can teade it with proper ER & position sizing. Do not blindly buy it. Always focus on SL
Autoparts
AXL: 3 Falling Peaks Aiming to Initiate A Type 2 Return to $1.00AXL, after giving us a decent type 1 reaction of the 0.886 PCZ, has now begun to slow down and has developed a 3 Falling Peaks pattern with a 4th lower peak for good measure, and it now looks to make a type 2 return to the HOP level, which would take it just below $1.00 if it plays out.
AMV | Parabolic Move Coming | LONGAtlis Motor Vehicles, Inc. develops and manufactures electric vehicles and charging infrastructure. It is developing AMV Energy 30 pack, a battery pack technology product; AMV Energy Cell; AMV Advanced charging station; AMV XP, a proprietary modular vehicle system; and AMV XT pickup trucks. The company was incorporated in 2016 and is headquartered in Mesa, Arizona.
LAZR | I Spy Insider Buys | BounceLuminar Technologies, Inc., an automotive technology company, provides sensor technologies and software for passenger cars and commercial trucks in North America, the Asia Pacific, Europe, and the Middle East. It operates in two segments, Autonomy Solutions and Components. The Autonomy Solutions segment designs, manufactures, and sells laser imaging, detection, and ranging sensors, as well as related perception and autonomy software solutions primarily for original equipment manufacturers in the automobile, commercial vehicle, robo-taxi, and adjacent industries. The Component segment develops ultra-sensitive pixel-based sensors. This segment also designs, tests, and provides consulting services for non-standard integrated circuits for use in automobile and aeronautics sector, as well as government spending in military and defense activities. The company was founded in 2012 and is headquartered in Orlando, Florida.
AAP BreakoutBLUF: 20% swing for 2 months at a 5% risk with the potential for a trend breakout.
Whether or not you "believe" in a recession in 2023, the idea of one on the horizon should alter how we pick stocks. Jim Cramer has been pushing bargain retailers for months and TJX is up over 40% since May of 2022. Taking the idea of a recession and the movement of money into the bargain or overstock companies can lead us to the auto industry. Benzinga posted on 30 Dec, 22 how much the major car companies have been down. With the decrease in consumer spending on vehicles, the idea here is that the money will shift from new cars to repairing current vehicles through auto parts stores. The three big companies focused on keeping used cars running are Autozone (AZO), Advance Auto Parts(AAP), and OReilly Automotive (ORLY).
AZO and ORLY have been performing nicely for multiple years, while AAP is at its Jan 21 low. The company president and CEO stated in the Q3 earnings report that "we're not at all satisfied with this outcome (lagging top-line growth)" and "as we develop plans for 2023 and beyond, we've done a deep dive on the competitive environment and the actions necessary to accelerate growth". This could be the inflection point and turn the company around from a leadership and financial perspective.
Turning to the chart. The stock has been following a negative trend since January 2022. The stock has tested and bounced off the $143 low from January 2021. Since this decline began, it has tested the lower trendline and rebounded sharply to the upper trendline lasting, 56, 60, and 36 days.
I believe the stock has the chance to continue trending toward the upper trend line over the next two months. If it can break the upper trend and we see continued signs of a recession, it could break out of the negative channel AAP is currently in.
The downside is about 5.5% to the recent lows with a 20% upside to the upper trendline.
The stock also has a 4% dividend.
DORM long ideaDorman Products - DORM
Consumer Cyclical
Auto Parts
USA
Dorman Products, Inc. supplies replacement parts and fasteners for passenger cars, light trucks, and medium- and heavy-duty trucks in the automotive aftermarket industry worldwide.
- High volume in stock
- Crossed 200 EMA
- Next earnings date - 25 Jul 2022
Dana Incorporated $DAN$DAN is consolidating and to get in wait for a breakout of $14.47
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PRTS soars +231.46%, reaches a 3-month high. Expect an uptrendUS Auto Parts Network (PRTS, $8.85) gained +231.46% and reached a new high over the last three months. By comparison, the broader Internet Retail Industry returned 95.9% over the same period of time. I analyzed 25 stocks in the Internet Retail Industry over the same period of time and found that 25 of them (100%) were in an Uptrend while none of them showed a Downtrend. I found 335 similar cases when PRTS's price went up 15% within three months. In 217 out of those 335 cases, PRTS's price went up during the following month. Based on these historical data, I think the odds of an Uptrend continuation for PRTS are 65%.
