Hi friends the daily chart of this market shows that it will experience an uptrend in the coming days but also we must be vigilant of the change of direction towards the oppser please subscribe to receive more analysis
Auto-part retailers have been one of the stronger parts of the brick-and-mortar universe during the pandemic. (People are owning cars longer than ever and performing more do-it-yourself work.) AZO showed that trend on Tuesday morning with a double-beat on earnings and revenue. It tried to open higher but lost a tug-of-war with bearish short-term momentum. Sellers...
In my opinion, AutoZone is overvalued and the company's balance sheet is problematic. (Current liabilities are greater than current assets, giving the stock a negative book value per share.) However, the book value is bad partly because management has opted to buy back shares rather than pay debts, which is good for share holders and for the stock price even if...
Sell off today. But not just for AZO. I think most of the market is red. Long at long entry level I will be glad when the elctions are over. Until then..I plan to lay low No rising wedges noted. I guess someone just decided this was too expensive at it's current price..or this ship is just going down with the rest of the boats. I am thinking someone will...
AZO looks like its ready for a breakout of the 1180 level. The tight price action and the 2 back to back inside days tell me a move is about to happen. Entry as it breaks through 1180 on increased volume.
What causes (any stock) to get a “speeding ticket”? Will the general stock market get a “speeding ticket?” What companies are likely to get “speeding tickets”? Many stocks have been trying to “avoid” (price or "price to earnings") speeding tickets by letting their price stay high and not do stock splits… however something doesn’t seem to be working… Stock...
I primarily use TDAmeritrade's thinkorswim platform to trade and I am starting to notice that their intraday data integrity is far better than Tradingview. I use thinkorswim to generate my morning alerts for "spikes" and the bars in the platform are very different from TV. Regardless, the number of alerts this morning gives me a hint that the market is getting a...
Driven by DIY and the explosion of Youtube how to videos on everything regarding car repair and upgrades from simply changing an air filter to removing and tearing down an engine block. When you need a car part NOW, autozone is the go to place for most. This is one area that CAN NOT be disrupted by $AMZN. This company was clicking on all cylinders pre-pandemic....
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AUTOZONE INC | $AZO Long Opportunity
Since IV is extremely high on AZO I put a credit spread on 1.52 credit collected 1270/1280 0.11/0.09 EXP Jan 17 Looks good I just wanna collect $75 out of this 50% of the spread credit. Low risk trade + earnings makes it somewhat more risky. Max loss will be $200 if it turns against me somehow blasts off to the moon.
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SHORT - AZO SL: 1193.13 (Suggested by our algorithmic system) TP: 1123.62 (Suggested by our algorithmic system) Reasons behind this idea: 1. Tested resistance level 3 times and failed to break through 2. Volume indicators suggest that AZO is in a distribution phase or in the supply zone 3. RSI, MACD, Stochastic indicators showing some bearish...