The Greedy Trader Weekly Analysis
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AutoZone Inc.
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Summary:
Weekly :Oversold sectorBroken trend resistance line
Daily :Williams' Percentage Range is overboughtPrice has crossed above the 50 Day Moving AverageBearish Deliberation CandlestickDaily  MACD line has moved above its signal lineThe price has risen above the Parabolic SARThe price moved above the moving average in the center of the Bollinger Bands
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It was a first positive week for the AutoZone Inc. (AZO). During the week, the AZO gained 35.27 points, or 4.33%, and closed at 849.91 on Friday, February 1, 2019. It was the best weekly gain since December 7, 2018. Weekly volume was -14% below average.

AZO is a member of Services Sector. Services is the second most oversold sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.

Long-term trend: [See AZO long-term trend chart]
A long-term downtrend had started on July 11, 2016 at 819.54 and reached 491.13 on July 20, 2017. AZO lost 328.41 points, or 40.07%, in 53 weeks. The chart has formed a Descending Triangle chart pattern. The downtrend resistance line (694.61) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. AZO may retest the broken resistance line. It is considered to be a support line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.

Medium-term trend: [See AZO medium-term trend chart]
A medium-term downtrend had started on December 11, 2018 at 896.03 and reached 798.41 on January 8, 2019. AZO lost 97.62 points, or 10.89%, in 4 weeks. The price is now at the 52.76% retracement level.

Weekly Technical Indicators: [See AZO weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is below its signal line since January 18, 2019. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term downtrend is getting stronger. Use the following link to access a MACD help.

Short-term trend: [See AZO short-term trend chart]
A short-term uptrend had started on January 8, 2019 at 798.41 and reached 855.45 on January 18, 2019. AZO gained -57.04 points, or -7.14%, in 10 days. The price is now at the 9.71% retracement level.

Daily Technical Indicators: [See AZO daily technical indicators chart]
Daily Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Williams' Percentage Range help.

During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.

During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

During the last week, the price has moved above the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

During the last week, the price has advanced above the 50 Day Moving Average. While the medium-term trend is down and daily technical indicators are overbought, the 50 Day Moving Average is considered a resistance level. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.

Candlestick pattern: [See AZO candlestick chart pattern]
On Friday the chart has formed a Bearish Deliberation Candlestick pattern. This pattern occurs in an uptrend;it appears after a sustained upward move and suggests that the rally is losing strength and a reversal is possible. The reliability of the Bearish Deliberation pattern is medium. Use the Technical Stock Screener to see the list of stocks that had a Bearish Deliberation Candlestick pattern during the last week.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 63.92
Williams' Percentage Range (W%R) 14.90
Overbought
Lane's Stochastic (%D-Slow) 66.93
Greed/Fear Indicator (GFI) 71.97
Moving Average Converg./Diverg. (MACD) -0.64
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 66.30
Williams' Percentage Range (W%R) 25.10
Lane's Stochastic (%D-Slow) 47.68
Greed/Fear Indicator (GFI) 59.99
Moving Average Converg./Diverg. (MACD) 33.71
Trading Signals
Description Value Chart
Upper Bollinger Band 856.03
Price 849.91
Daily Stochastic Crossing 842.25
Weekly Stochastic Crossing 840.13
50 Day Moving Average 838.20
20 Day Moving Average 829.97
Lower Bollinger Band 811.82
Parabolic System 810.72
Yearly Trendline Resistance 783.27
Yearly Trendline Support 694.61
Sector and Industry
Description Name Rank
Sector Services 2
Industry Auto Parts Stores 76
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 798.41
Low Date 01/08/2019
High 855.45
High Date 01/18/2019
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 896.03
High Date 12/11/2018
Low 798.41
Low Date 01/08/2019
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 590.76
Low Date 04/20/2018
High 896.03
High Date 12/11/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 491.13
Low Date 07/20/2017
High 896.03
High Date 12/11/2018
Description Value
Direction Down
Chart Pattern Descending Triangle
Status Broken Resistance
Resistance 783.27
Support 694.61
High 819.54
High Date 07/11/2016
Low 491.13
Low Date 07/20/2017
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.

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