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Daily W%R Divergence:Bearish
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Williams' Percentage Range (W%R)

Williams' %R is an effective momentum indicator that measures overbought/oversold levels. Like other indicators, W%R ranges between 0% and 100% , but in opposite to the other indicators, the 0% indicating overbought and 100% - the oversold stocks. W%R measures the closing price in relation to the recent low/high range. A bullish signal is generated when the W%R has reached 100, five time bars have elapsed, and the W%R has subsequently fallen to 95. A reverse signal is considered as bearish. For the sake of simplicity, the W%R closed above 10% is considered bearish and below 90% - bullish. In trending markets, the W%R stays at one end of the scale and gives false signals to trade against the trend. That is why W%R is not considered a stand-along technique, and it is essential to use it with some sort of trend formation indicators. The divergence between price and W%R rarely occurs and presents an important buy/sell signal. As our research shows, the W%R move to upper or lower bounds can be used as an earliest signal of an impending reversal. Using the Williams %R bullish divergence/bearish divergence, chart patterns, trendlines, support, and resistance lines along with the W%R chart can be very useful.

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- 3/15/2024 -
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AutoZone Inc. (AZO) Technical Analysis

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Summary:
Weekly :Broken uptrend resistance line - uptrend exhaustionLane's Stochastic is overboughtWilliams' Percentage Range is strongly overbought
Daily :Relative Strength Index and Williams' Percentage Range are overboughtStochastic signal line moved below overbought areaThe price has fallen below the Parabolic SARThe period of high volatility of the stock price
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It was a fifth consecutive positive week for the AutoZone Inc. (AZO). During the week, the AZO gained 44.84 points, or 1.46%, and closed at 3124.33 on Friday, March 15, 2024. Weekly volume was -7% below average.

Long-term trend: [See AZO long-term trend chart]
A long-term uptrend had started on July 20, 2017 at 491.13 and reached 3152.66 on March 7, 2024. AZO gained -2661.53 points, or -541.92%, in 346 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend resistance line (963.35) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.

Medium-term trend: [See AZO medium-term trend chart]
A medium-term uptrend had started on March 23, 2020 at 684.91 and reached 3152.66 on March 7, 2024. AZO gained -2467.75 points, or -360.30%, in 206 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 2724.25 and resistance is at 3167.95. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a medium-term trend.

Weekly Technical Indicators: [See AZO weekly technical indicators chart]
Weekly Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic or strongly overbought weekly Williams' Percentage Range. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.

The weekly MACD line is above its signal line since January 19, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current medium-term uptrend is strong. Use the following link to access a MACD help.

Short-term trend: [See AZO short-term trend chart]
A short-term uptrend had started on January 9, 2024 at 2510.00 and reached 3152.66 on March 7, 2024. AZO gained -642.66 points, or -25.60%, in 58 days. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 2834.62 and resistance is at 3241.90. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a short-term trend.

Daily Technical Indicators: [See AZO daily technical indicators chart]
Daily Relative Strength Index and Williams' Percentage Range are overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Relative Strength Index and Williams' Percentage Range. During the last week, daily Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal. Use the following link to access Relative Strength Index help.

The daily MACD line is above its signal line since February 26, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.

During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

The distance between the Bollinger Bands is 115.95% higher then one year average. It indicates the period of high volatility of the stock price. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 85.81
Overbought
Williams' Percentage Range (W%R) 10.80
Overbought
Lane's Stochastic (%D-Slow) 63.48
Greed/Fear Indicator (GFI) 79.51
Moving Average Converg./Diverg. (MACD) 89.55
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 76.75
Williams' Percentage Range (W%R) 6.50
Strong Overbought
Lane's Stochastic (%D-Slow) 80.60
Overbought
Greed/Fear Indicator (GFI) 79.84
Moving Average Converg./Diverg. (MACD) 68.69
Trading Signals
Description Value Chart
Upper Bollinger Band 3303.13
Weekly Trendline Resistance 3241.90
Quarterly Trendline Resistance 3167.95
Parabolic System 3144.86
Price 3124.33
Daily Stochastic Crossing 3105.93
Weekly Stochastic Crossing 3085.85
20 Day Moving Average 2969.54
Monthly Trendline Resistance 2879.27
Weekly Trendline Support 2834.62
50 Day Moving Average 2812.45
Quarterly Trendline Support 2724.25
Lower Bollinger Band 2677.71
Monthly Trendline Support 2622.48
Sector and Industry
Description Name Rank
Sector Consumer Discretionary 7
Industry Specialty Stores 110
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 2672.31
Low Date 02/12/2024
High 3152.66
High Date 03/07/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 3241.90
Support 2834.62
Low 2510.00
Low Date 01/09/2024
High 3152.66
High Date 03/07/2024
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 2879.27
Support 2622.48
Low 2277.88
Low Date 05/31/2023
High 3152.66
High Date 03/07/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 3167.95
Support 2724.25
Low 684.91
Low Date 03/23/2020
High 3152.66
High Date 03/07/2024
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Broken Resistance
Resistance 2347.58
Support 963.35
Low 491.13
Low Date 07/20/2017
High 3152.66
High Date 03/07/2024
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.