The Greedy Trader Weekly Analysis
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Weekly Price vs. Fibonacci:Near 61.8% retracement level
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Stock market trading indicator and technical analysis stock screen presents technical stock market timing signals for technical investment analysis like screen stochastic or moving average trading system.. Screen includes following popular indicators and trading systems: Relative Strength Index (RSI), Williams' Percentage Range (W%R) and Lane's Stochastic (%D–Slow), moving average, macd convergence divergence, bullish and bearish divergence. For the best result different technical indicators should be analyzed in different time frames together with trend analysis, sector/industry ranking and stock timing alerts.

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- 4/5/2024 -
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AutoZone Inc. (AZO) Technical Analysis

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Summary:
Weekly :Williams' Percentage Range is overboughtLane's Stochastic is strongly overboughtBroken trend resistance line
Daily :The price has fallen below the Parabolic SARLane's Stochastic is oversoldBullish Harami CandlestickThe 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 -46.71 points, or -1.48%, and closed at 3104.94 on Friday, April 5, 2024. Weekly volume was -34% 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 3242.19 on March 22, 2024. AZO gained -2751.06 points, or -560.15%, in 348 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend resistance line (967.13) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. 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 uptrend had started on March 23, 2020 at 684.91 and reached 3242.19 on March 22, 2024. AZO gained -2557.28 points, or -373.37%, in 208 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 2752.81 and resistance is at 3196.51. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a medium-term trend.

Weekly Technical Indicators: [See AZO weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought while Lane's Stochastic is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range or strongly 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 links to access Lane's Stochastic and Williams' Percentage Range help.

The weekly MACD line is above its signal line since January 19, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is relatively high, but getting smaller. It indicates that the current medium-term uptrend is still strong, and momentum is beginning to wane. 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 9, 2024 at 2510.00 and reached 3242.19 on March 22, 2024. AZO gained -732.19 points, or -29.17%, in 73 days. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 2933.42 and resistance is at 3354.54. 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 short-term trend.

Daily Technical Indicators: [See AZO daily technical indicators chart]
Daily Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Lane's Stochastic.

The daily MACD line is below its signal line since March 25, 2024.

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.

Candlestick pattern: [See AZO candlestick chart pattern]
On Friday the chart has formed a Bullish Harami Candlestick pattern. A Bullish Harami indicates that the bearish trend may be reversing, it signals that it's a good time to enter into a long position. Use the Technical Stock Screener to see the list of stocks that had a Bullish Harami Candlestick pattern during the last week.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 47.66
Williams' Percentage Range (W%R) 63.80
Lane's Stochastic (%D-Slow) 17.08
Oversold
Greed/Fear Indicator (GFI) 33.65
Moving Average Converg./Diverg. (MACD) 70.94
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 72.75
Williams' Percentage Range (W%R) 19.80
Overbought
Lane's Stochastic (%D-Slow) 90.89
Strong Overbought
Greed/Fear Indicator (GFI) 79.13
Moving Average Converg./Diverg. (MACD) 102.65
Trading Signals
Description Value Chart
Weekly Trendline Resistance 3354.54
Parabolic System 3232.78
Upper Bollinger Band 3212.48
Quarterly Trendline Resistance 3196.51
Weekly Stochastic Crossing 3180.87
20 Day Moving Average 3140.34
Price 3104.94
Daily Stochastic Crossing 3100.58
Lower Bollinger Band 3010.50
50 Day Moving Average 2959.23
Weekly Trendline Support 2933.42
Monthly Trendline Resistance 2903.31
Quarterly Trendline Support 2752.81
Monthly Trendline Support 2646.52
Sector and Industry
Description Name Rank
Sector Consumer Discretionary 7
Industry Specialty Stores 77
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 2672.31
Low Date 02/12/2024
High 3242.19
High Date 03/22/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 3354.54
Support 2933.42
Low 2510.00
Low Date 01/09/2024
High 3242.19
High Date 03/22/2024
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 2903.31
Support 2646.52
Low 2277.88
Low Date 05/31/2023
High 3242.19
High Date 03/22/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 3196.51
Support 2752.81
Low 684.91
Low Date 03/23/2020
High 3242.19
High Date 03/22/2024
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Broken Resistance
Resistance 2361.60
Support 967.13
Low 491.13
Low Date 07/20/2017
High 3242.19
High Date 03/22/2024
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.