The Greedy Trader Weekly Analysis
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Downtrend Resistance
Downtrend Resistance stock alert presents a technical analysis stock market picking technique based on combination of technical indicators, stock trend analysis, trend following indicators and pattern recognition. Stock market alert is a warning signal. Downtrend Resistance stock alert indicates that price is near long-term resistance trendline and probability of short-term trend reversal is high.

The strategy is based on selling long (or taking short) position on downtrend testing resistance. The strategy has low to medium risk and average reword.
Technical analysis of stock trend chart following long term trend analysis and trend following indicator for downtrend resistance trend trading. Stock trend chart - following long term trend and downtrend resistance.
trend trading,trend following,stock trend chart,technical analysis of stock trend,trend following indicator,following long term trend,downtrend resistance
AutoZone Inc.
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Summary:
Weekly :Overbought sectorOverbought industryWilliams' Percentage Range and Lane's Stochastic are overboughtStochastic has declined below the signal line
Daily :Stochastic signal line moved below overbought areaDaily  MACD line has moved below its signal lineThe price has fallen below the Parabolic SAR
Move cursor over the icon to see details.

It was the negative week for the AutoZone Inc. (AZO). During the week, the AZO gave back -4.40 points, or -0.57%, and closed at 771.30 on Friday, October 05, 2018. Weekly volume was -35% below average.

AZO is a member of Services Sector. Services is the second most overbought sector. AZO is a member of Auto Parts Stores Industry. Auto Parts Stores is the ninth most overbought industry. 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 trend support level is at 652.44 and resistance is at 787.77. A Descending Triangle is a variation of triangle formation that has a flat support line and falling resistance line. The lower highs indicate the decreasing demand and give the descending triangle definitive bearish bias. A Descending Triangle usually represents a distribution stage in bearish market. A Descending Triangle is considered to be a continuation pattern, especially in a down trend, but it may also mark a reversal in an uptrend. Use the following link to access a Descending Triangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Descending Triangle pattern in a long-term trend.

Medium-term trend: [See AZO medium-term trend chart]
A medium-term uptrend had started on April 20, 2018 at 590.76 and reached 788.30 on September 27, 2018. AZO gained -197.54 points, or -33.44%, in 22 weeks. The price is now at the 8.61% retracement level.

Weekly Technical Indicators: [See AZO weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range and Lane's Stochastic. During the last week, weekly Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish 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 links to access Lane's Stochastic and Williams' Percentage Range help.

The weekly MACD line is above its signal line since June 8, 2018. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. 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 September 27, 2018 at 788.30 and reached 755.63 on October 3, 2018. AZO lost 32.67 points, or 4.14%, in 6 days. The price is now at the 47.96% retracement level.

Daily Technical Indicators: [See AZO daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal.

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

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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 62.26
Williams' Percentage Range (W%R) 27.70
Lane's Stochastic (%D-Slow) 40.40
Greed/Fear Indicator (GFI) 58.30
Moving Average Converg./Diverg. (MACD) 4.91
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 76.10
Williams' Percentage Range (W%R) 11.70
Overbought
Lane's Stochastic (%D-Slow) 80.37
Overbought
Greed/Fear Indicator (GFI) 76.70
Moving Average Converg./Diverg. (MACD) 22.83
Trading Signals
Description Value Chart
Yearly Trendline Resistance 787.77
Parabolic System 787.76
Upper Bollinger Band 786.84
Price 771.30
Weekly Stochastic Crossing 770.12
Daily Stochastic Crossing 766.71
20 Day Moving Average 763.88
50 Day Moving Average 754.33
Lower Bollinger Band 743.41
Yearly Trendline Support 652.44
Sector and Industry
Description Name Rank
Sector Services 8
Industry Auto Parts Stores 155
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 788.30
High Date 09/27/2018
Low 755.63
Low Date 10/03/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 707.95
Low Date 09/18/2018
High 788.30
High Date 09/27/2018
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 590.76
Low Date 04/20/2018
High 788.30
High Date 09/27/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 491.13
Low Date 07/20/2017
High 797.89
High Date 01/19/2018
Description Value
Direction Down
Chart Pattern Descending Triangle
Status Valid
Resistance 787.77
Support 652.44
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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