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Advanced TA SearchArchive
- 5/10/2024 -
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AutoZone Inc. (AZO) Technical Analysis
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| Summary:
| | Weekly : | | Daily : 
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| | It was a second consecutive positive week for the AutoZone Inc. (AZO). During the week, the AZO climbed 27.12 points, or 0.92%, and closed at 2979.32 on Friday, May 10, 2024. It was the best weekly gain since March 22, 2024. Weekly volume was -37% below average.
AZO is a member of Consumer Discretionary Sector. Consumer Discretionary is the second most oversold 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 3242.19 on March 22, 2024. AZO gained -2751.06 points, or -560.15%, in 348 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend resistance line (973.88) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. 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 3242.19 on March 22, 2024. AZO gained -2557.28 points, or -373.37%, in 208 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 2803.80 and resistance is at 3247.50. 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 technical indicators are neutral.
The weekly MACD line is below its signal line since April 26, 2024. The distance between MACD and the signal line is low, but getting bigger. Use the following link to access a MACD help.
 Short-term trend: [See AZO short-term trend chart]
A short-term downtrend had started on March 22, 2024 at 3242.19 and reached 2851.42 on April 25, 2024. AZO lost 390.77 points, or 12.05%, in 34 days. The chart has formed a Ascending Triangle chart pattern. The trend support level is at 2965.43 and resistance is at 3008.28. An Ascending Triangle is a variation of triangle formation that has a flat resistance line and rising support line. The higher lows indicate an increasing demand and give the ascending triangle definitive bullish bias. An Ascending Triangle usually represents an accumulation stage in bullish market. An Ascending Triangle is considered to be a continuation pattern, especially in an uptrend, but it may also mark a reversal in a downtrend. Use the following link to access a Ascending Triangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Ascending Triangle pattern in a short-term trend.
 Daily Technical Indicators: [See AZO daily technical indicators chart]
Daily Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought daily overbought 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 link to access Williams' Percentage Range help.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
The price is close to the moving average in the center of the Bollinger Bands. The distance between the Bollinger Bands (3.29%) is close to one year low (3.35%). It is 64.28% 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.
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