$AAP - RC -
Added 2023-07-08 23:55:45 +0000 UTCA very difficult chart to look at if you are holder here, losing the Covid low from 2020 was not a good sight and rare to see.
It needs to hold the yellow historical support line which is at $62 and stay above this line, a break down here and $24 is possible which is the low from 2008.
Price action needs to get above the blue line to show any signs of reversing, earnings are out towards the end of August.
Fundamentals do not appear to justify this aggressive decline apart from a slight decrease in growth YOY but the QoQ decline was quite strong at -68%. Management will need to address this issue, if they can, there is a potential to recover strong here.
