Breakout_Trade

AZO Bullish Engulfing

Long
NYSE:AZO   AutoZone, Inc
Trying to breakout of small downtrend since mid-September. It looks to be gaining momentum with RSI crossing above 50 and MACD cross plus histogram turning positive. Thursday brought a bullish engulfing candle with a close above 20, 50, and 100-day moving average. Options for this stock are thinly traded with wide bid/ask so this would be a share purchase with a target of ATH around $1275 as target.

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