The Greedy Trader Weekly Analysis
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AutoZone Inc.
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Summary:
Weekly :Lane's Stochastic is overbought
Daily :The price has fallen below the Parabolic SARWilliams' Percentage Range is oversoldMACD bullish divergence20 Day Moving Average has crossed above the 50 Day Moving AveragePrice is near the Fibonacci 23.6% retracement levelThe price has declined below the moving average in the center of the Bollinger Bands
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It was the negative week for the AutoZone Inc. (AZO). During the week, the AZO dropped -32.79 points, or -3.17%, and closed at 1000.59 on Friday, May 10, 2019. It was the worst weekly loss since December 21, 2018. Weekly volume was -26% below average.

Long-term trend: [See AZO long-term trend chart]
A long-term uptrend had started on July 20, 2017 at 491.13 and reached 1074.67 on April 15, 2019. AZO gained -583.54 points, or -118.82%, in 90 weeks. The price is now at the 12.69% retracement level.

Medium-term trend: [See AZO medium-term trend chart]
A medium-term uptrend had started on January 8, 2019 at 798.41 and reached 1074.67 on April 15, 2019. AZO gained -276.26 points, or -34.60%, in 13 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 830.25 and resistance is at 1141.55. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a medium-term trend.

Weekly Technical Indicators: [See AZO weekly technical indicators chart]
Weekly Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic. 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 Lane's Stochastic help.

The weekly MACD line is above its signal line since February 8, 2019. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.

Short-term trend: [See AZO short-term trend chart]
A short-term downtrend had started on May 3, 2019 at 1048.94 and reached 984.05 on May 10, 2019. AZO lost 64.89 points, or 6.19%, in 7 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Daily Technical Indicators: [See AZO daily technical indicators chart]
Daily Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range. Daily MACD has bullish divergence. Use the following links to access the MACD help, or use the Technical Stock Screener to see the list of stocks with daily MACD bullish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Use the following link to access Williams' Percentage Range help.

The daily MACD line is below its signal line since April 15, 2019. This is an indication that the short-term trend is down. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current short-term downtrend is strong.

During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward 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 declined below 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 20 Day Moving Average has advanced above the 50 Day Moving Average. Such crossover is considered a bullish signal. 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 32.72
Williams' Percentage Range (W%R) 82.40
Oversold
Lane's Stochastic (%D-Slow) 20.64
Greed/Fear Indicator (GFI) 23.67
Moving Average Converg./Diverg. (MACD) 5.50 Bullish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 76.32
Williams' Percentage Range (W%R) 27.00
Lane's Stochastic (%D-Slow) 80.30
Overbought
Greed/Fear Indicator (GFI) 70.96
Moving Average Converg./Diverg. (MACD) 61.40
Trading Signals
Description Value Chart
Monthly Trendline Resistance 1141.55
Upper Bollinger Band 1060.40
Weekly Stochastic Crossing 1043.42
20 Day Moving Average 1034.37
Parabolic System 1031.68
50 Day Moving Average 1007.99
Price 1000.59
Daily Stochastic Crossing 994.86
Lower Bollinger Band 987.83
Monthly Trendline Support 830.25
Sector and Industry
Description Name Rank
Sector Services 7
Industry Auto Parts Stores 57
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 1048.94
High Date 05/03/2019
Low 984.05
Low Date 05/10/2019
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 1074.67
High Date 04/15/2019
Low 984.05
Low Date 05/10/2019
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 1141.55
Support 830.25
Low 798.41
Low Date 01/08/2019
High 1074.67
High Date 04/15/2019
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 590.76
Low Date 04/20/2018
High 1074.67
High Date 04/15/2019
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 491.13
Low Date 07/20/2017
High 1074.67
High Date 04/15/2019
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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