The Greedy Trader Weekly Analysis
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AutoZone Inc.
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Summary:
Weekly :Overbought industryWilliams' Percentage Range and Lane's Stochastic are overbought
Daily :Broken trend support lineThe price has fallen below the Parabolic SARThe price touches the lower Bollinger BandThe Bollinger Bands are historically close together
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It was the negative week for the AutoZone Inc. (AZO). During the week, the AZO dropped -23.33 points, or -3.02%, and closed at 749.20 on Friday, September 14, 2018. It was the worst weekly loss since April 6, 2018. Weekly volume was -11% below average.

AZO is a member of Auto Parts Stores Industry. Auto Parts Stores is the seventh most overbought industry. 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 downtrend had started on July 11, 2016 at 819.54 and reached 491.13 on July 20, 2017. AZO lost 328.41 points, or 40.07%, in 53 weeks. The chart has formed a Descending Triangle chart pattern. The trend support level is at 644.53 and resistance is at 788.61. A Descending Triangle is a variation of triangle formation that has a flat support line and falling resistance line. The lower highs indicate the decreasing demand and give the descending triangle definitive bearish bias. A Descending Triangle usually represents a distribution stage in bearish market. A Descending Triangle is considered to be a continuation pattern, especially in a down trend, but it may also mark a reversal in an uptrend. Use the following link to access a Descending Triangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Descending Triangle pattern in a long-term trend.

Medium-term trend: [See AZO medium-term trend chart]
A medium-term uptrend had started on April 20, 2018 at 590.76 and reached 784.00 on September 5, 2018. AZO gained -193.24 points, or -32.71%, in 19 weeks. The price is now at the 18.01% retracement level.

Weekly Technical Indicators: [See AZO weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range and 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 links to access Lane's Stochastic and Williams' Percentage Range help.

The weekly MACD line is above its signal line since June 8, 2018. This is an indication that the medium-term trend is up. 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 July 2, 2018 at 662.17 and reached 784.00 on September 5, 2018. AZO gained -121.83 points, or -18.40%, in 65 days. The chart has formed a Rising Channel chart pattern. The uptrend support line (758.49) is broken. A broken support is considered to be a long-term bearish signal. 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 support in a short-term trend.

Daily Technical Indicators: [See AZO daily technical indicators chart]
Daily technical indicators are neutral.

The daily MACD line is below its signal line since August 28, 2018.

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 price touches the lower Bollinger Band. The distance between the Bollinger Bands (3.43%) is close to one year low (4.35%). It is 67.92% lower than one year average. It indicates the period of low volatility of the stock price, and it is considered a buy signal for the option traders. 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) 36.13
Williams' Percentage Range (W%R) 50.30
Lane's Stochastic (%D-Slow) 24.86
Greed/Fear Indicator (GFI) 36.91
Moving Average Converg./Diverg. (MACD) 11.49
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 68.45
Williams' Percentage Range (W%R) 10.00
Overbought
Lane's Stochastic (%D-Slow) 89.29
Overbought
Greed/Fear Indicator (GFI) 79.21
Moving Average Converg./Diverg. (MACD) 17.77
Trading Signals
Description Value Chart
Yearly Trendline Resistance 788.61
Weekly Trendline Resistance 784.76
Parabolic System 779.07
Weekly Stochastic Crossing 774.03
Upper Bollinger Band 772.69
20 Day Moving Average 766.94
Weekly Trendline Support 758.49
Daily Stochastic Crossing 755.73
Price 749.20
Lower Bollinger Band 746.99
50 Day Moving Average 734.43
Yearly Trendline Support 644.53
Sector and Industry
Description Name Rank
Sector Services 7
Industry Auto Parts Stores 157
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 784.00
High Date 09/05/2018
Low 746.79
Low Date 09/14/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Support
Resistance 784.76
Support 758.49
Low 662.17
Low Date 07/02/2018
High 784.00
High Date 09/05/2018
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 590.76
Low Date 04/20/2018
High 784.00
High Date 09/05/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 491.13
Low Date 07/20/2017
High 797.89
High Date 01/19/2018
Description Value
Direction Down
Chart Pattern Descending Triangle
Status Valid
Resistance 788.61
Support 644.53
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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