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Advanced TA SearchArchive
- 4/19/2024 -
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AutoZone Inc. (AZO) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a first positive week after 3 consecutive negative weeks for the AutoZone Inc. (AZO). During the week, the AZO climbed 23.22 points, or 0.78%, and closed at 2985.54 on Friday, April 19, 2024. Weekly volume was -6% 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 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 (969.83) 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 2773.21 and resistance is at 3216.90. 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. During the last week, weekly Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal. 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 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 low and getting smaller. It indicates that the current medium-term uptrend 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 January 9, 2024 at 2510.00 and reached 3242.19 on March 22, 2024. AZO gained -732.19 points, or -29.17%, in 73 days. The chart has formed a Broadening Ascending Wedge chart pattern. The price is near the trend support (3003.99) line. The support is usually stronger when technical indicators are oversold. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend support line in a short-term trend.
Daily Technical Indicators: [See AZO daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish signal.
The daily MACD line is below its signal line since March 25, 2024.
A Parabolic SAR (stop and reversal) indicator (3002.86) comes close to the price (2985.54). It indicates that the trend is getting weaker. 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.
Price is close to the 50 Day Moving Average. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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