timwest

AZO insider sales and weak relative price action

NYSE:AZO   AutoZone, Inc
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AZO is down on the day while the overall market is up 3%. Over the long haul, AZO has tremendously outperformed the market, however, with recent chunks of insider sales just above current prices and with this stock at fairly lofty valuation levels, perhaps there is a chance that this stock gets tested to see if buyers lurk underneath current prices. $300-$270 could be tested. Stop loss 3 average ranges or approximately $20 from entry. Downside potential $20-$50.
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