Will AAP rise towards its resistance level of $130?
|Today’s instrument is the Advance Auto Parts Inc., an automotive aftermarket parts provider, whose stock is traded in NYSE exchange under the ticker AAP.
Looking at the AAP’s chart, we can see that the stock is in a downtrend, and it was lastly traded at $119.44. It closed above its support level, which is located at around $119.30, and today we should expect it to rise towards its soft resistance level at around $125 and if it is able to pass it, then it could approach its next one at around $130.
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