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AutoZone Inc. (AZO) |
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| Summary:
| | Weekly : | | Daily :
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| | It was a third consecutive positive week for the AutoZone Inc. (AZO). During the week, the AZO gained 38.83 points, or 3.32%, and closed at 1207.42 on Friday, July 31, 2020. Weekly volume was -38% 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 1274.41 on December 10, 2019. AZO gained -783.28 points, or -159.49%, in 124 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 893.34 and resistance is at 1435.59. 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 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 1230.54 on July 30, 2020. AZO gained -545.63 points, or -79.66%, in 18 weeks. Price is near the trend high.
 Weekly Technical Indicators: [See AZO weekly technical indicators chart]
Weekly Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought Williams' Percentage Range. Weekly MACD has bearish divergence. Use the following links to access the MACD help, or use the Technical Stock Screener to see the list of stocks with weekly MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. 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.
The weekly MACD line is above its signal line since May 1, 2020. 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 uptrend had started on June 15, 2020 at 1074.45 and reached 1230.54 on July 30, 2020. AZO gained -156.09 points, or -14.53%, in 45 days. The price is now at the 14.81% retracement level.
 Daily Technical Indicators: [See AZO daily technical indicators chart]
Daily Williams' Percentage Range is overbought while Relative Strength Index is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range or strongly overbought daily Relative Strength Index. During the last week, daily Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal. Use the following links to access Lane's Stochastic and Relative Strength Index help.
The daily MACD line is above its signal line since July 15, 2020. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term uptrend is getting stronger.
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