The Greedy Trader Weekly Analysis
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AutoZone Inc.
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Summary:
Weekly :Overbought sector
Daily :Lane's Stochastic is overboughtThe price has risen above the Parabolic SAR
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It was a second consecutive positive week for the AutoZone Inc. (AZO). During the week, the AZO gained 21.27 points, or 3.26%, and closed at 674.39 on Friday, June 08, 2018. It was the best weekly gain since April 27, 2018. Weekly volume was -40% below average.

AZO is a member of Services Sector. Services is the second most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.

Long-term trend: [See AZO long-term trend chart]
A long-term uptrend had started on July 20, 2017 at 491.13 and reached 797.89 on January 19, 2018. AZO gained -306.76 points, or -62.46%, in 26 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 631.95 and resistance is at 695.13. 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 long-term trend.

Medium-term trend: [See AZO medium-term trend chart]
A medium-term downtrend had started on January 19, 2018 at 797.89 and reached 590.76 on April 20, 2018. AZO lost 207.13 points, or 25.96%, in 13 weeks. The chart has formed a Falling Pennant chart pattern. The trend support level is at 599.98 and resistance is at 697.59. A Falling Pennant chart pattern represents a brief pause after a sharp move in a dynamic market. It is considered one of the most reliable continuation patterns.Use the following link to access a Falling Pennant chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Pennant pattern in a medium-term trend.

Weekly Technical Indicators: [See AZO weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is below its signal line since February 23, 2018. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term downtrend is getting weak. 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 May 23, 2018 at 597.00 and reached 674.82 on June 8, 2018. AZO gained -77.82 points, or -13.04%, in 16 days. Price is near the trend high.

Daily Technical Indicators: [See AZO daily technical indicators chart]
Daily Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Lane's Stochastic. 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 link to access Lane's Stochastic help.

The daily MACD line is above its signal line since May 31, 2018. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term uptrend is getting stronger.

During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 55.88
Williams' Percentage Range (W%R) 41.30
Lane's Stochastic (%D-Slow) 84.80
Overbought
Greed/Fear Indicator (GFI) 66.45
Moving Average Converg./Diverg. (MACD) 4.22
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 52.58
Williams' Percentage Range (W%R) 65.00
Lane's Stochastic (%D-Slow) 64.52
Greed/Fear Indicator (GFI) 50.78
Moving Average Converg./Diverg. (MACD) -3.08
Trading Signals
Description Value Chart
Monthly Trendline Resistance 697.59
Quarterly Trendline Resistance 695.13
Upper Bollinger Band 682.88
Price 674.39
Daily Stochastic Crossing 671.08
Weekly Stochastic Crossing 661.28
20 Day Moving Average 649.16
50 Day Moving Average 633.90
Quarterly Trendline Support 631.95
Lower Bollinger Band 616.08
Parabolic System 603.84
Monthly Trendline Support 599.98
Sector and Industry
Description Name Rank
Sector Services 8
Industry Auto Parts Stores 136
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 597.00
Low Date 05/23/2018
High 674.82
High Date 06/08/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 590.76
Low Date 04/20/2018
High 710.00
High Date 05/22/2018
Description Value
Direction Down
Chart Pattern Falling Pennant
Status Valid
Resistance 697.59
Support 599.98
High 797.89
High Date 01/19/2018
Low 590.76
Low Date 04/20/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 695.13
Support 631.95
Low 491.13
Low Date 07/20/2017
High 797.89
High Date 01/19/2018
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 819.54
High Date 07/11/2016
Low 491.13
Low Date 07/20/2017
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.

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