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Short

AutoZone (NYSE:AZO) About To Crash Into Key Moving Average

NYSE:AZO   AUTOZONE INC
azo
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Over the last couple of weeks, AutoZone             , Inc. (NYSE:AZO) has formed a bearish wedge on the daily time frame chart, you can take note of this in the chart below. AZO is now moving into resistance at the 50 day moving average , which is a possible sell trigger point, or area to short the stock for a quick scalp. Should the AutoZone             , Inc. (NYSE:AZO) bearish wedge/resistance area play out, the equity will have downside potential to gap window, which is at $493.01 and ultimately gap fill at $487.32. Those two levels will provide the price of AZO support if it should trade down to them; with a bounce higher from those levels expected to bring AZO back higher to the upside target of $510.

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