Autozone stock is one of the most oversold in the S&P500 and yielded a textbook doji candle today. Tuesday's supports were successfully tested. I'm looking for a bounce into moving averages at 770 and/or 790.
Doji watch: a doji in the makings after last week's selloff and very oversold readings. A close around these levels here at $753 could yield a bullish reversal doji.
Look at the history of these two stocks going back to 2011. They are identical in performance and yet AAP reports its earnings FIRST and the stock tanked 30 points or 15% last month. Autozone reports on Dec 8th and could face a similar fate as AAP since they are in the same business.
Lately, new car sales have taken off to the upside and at some point...
AZO has been a well trending stock for many years, especially since breaking above the $200 zone in 2010.
Despite the great trend I would not have traded this due to the low volume. I generally prefer stocks with much higher volume to help aid liquidity (although AZO has done exceptionally well without adhering to this criteria). And now the stock is pretty...
