AutoZone’s strategy of fast delivery of high-quality products is expected to drive third-quarter fiscal 2019 results. Besides having a growing physical presence through ramping up store openings, its online platform is adding to a impressive growth performance, these online initiatives will further improve sales and market share for the leading retailer and...
This is like the babushka doll of crab patterns... 1.618XA and 2.0XA of the large and medium patterns line up really close and rejected the price action Friday. 1st PT of the smallest crab lines up w channel support. This is another one of those consumer cyclicals I'm looking to trade as they don't track the indices as closely as something like tech.
AZO is approaching our first support at 795.50 (horizontal overlap support, 100%, 61.8% Fibonacci extension, 50%, 23.6% Fibonacci retracement) where price might bounce to our resistance at 894.11 (horizontal swing high resistance).
Stochastic (55,5,3) is also approaching support where we might see a corresponding bounce in price.
AZO is approaching our first support at 795.92 (horizontal overlap support, 100% Fibonacci extension, 23.6% Fibonacci retracement) where a strong bounce might occur above this level pushing price up to our major resistance at 893.64 (horizontal swing high resistance).
Stochastic (34,5,3) is also approaching support where we might see a corresponding bounce in price.
Here is how I trade:
1. I find WINNING investments (aka: Above the 200 hour EMA)
2. I look for clear winning scenarios (aka: Low crossing stochastics)
3. I play the odds in my favor (aka: Using stop losses and take profit levels)
Way too many people have a pride for the economy. They think that it can never go down. They are almost insulted by the drops in the...