Today I used Barcharts to sort a list of high growth stocks to find the stock with the most frequent new highs in the last month. At the top of the list was Advanced Auto Parts (NYSE:AAP):
Barchart technical indicators:
96% Barchart technical buy signals
Trend Spotter buy signal – up 13.74% since the 10/20 buy signal
Above its 20, 50 and 100 day moving averages
12 new highs and up 9.82% in the last month
Relative Strength Index 71.48%
Barchart computes a technical support level at 158.48
Recently traded at 159.36 with a 50 day moving average of 145.39
Fundamental factors:
Market Cap $11.63 billion
P/E 22.38
Dividend yield .15%
Revenue expected to grow 52.20% this year and another 2.30% next year
Earnings estimated to increase 44.70% this year, an additional 12.60% next year and continue to increase at an annual rate of 17.75% for the next 5 years
Wall Street analysts issued 6 strong buy, 7 buy and 13 hold recommendations on the stock
The 50 – 100 day MACD Oscillator has been a very reliable technical trading strategy on this stock and should be used for an exit point.
