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Advanced TA SearchArchive
- 5/26/2023 -
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AutoZone Inc. (AZO) |
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the AutoZone Inc. (AZO). During the week, the AZO dropped -192.39 points, or -7.25%, and closed at 2460.79 on Friday, May 26, 2023. Weekly volume was 89% above 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 2750.00 on May 10, 2023. AZO gained -2258.87 points, or -459.93%, in 302 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend resistance line (909.09) 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 2750.00 on May 10, 2023. AZO gained -2065.09 points, or -301.51%, in 163 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 2186.03 and resistance is at 2938.58. 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 technical indicators are neutral. During the last week, weekly Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal. 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 Lane's Stochastic help.
During the last week, weekly MACD line has moved below its signal line. Such crossover is considered a bearish signal. 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 10, 2023 at 2750.00 and reached 2398.24 on May 25, 2023. AZO lost 351.76 points, or 12.79%, in 15 days. The price is now at the 17.78% retracement level.
 Daily Technical Indicators: [See AZO daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range and Lane's Stochastic. Use the following link to access Williams' Percentage Range help.
The daily MACD line is below its signal line since April 27, 2023. This is an indication that the short-term trend is down. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current short-term downtrend is strong.
During the last week, the price has crossed below the 50 Day Moving Average. While the medium-term trend is up and daily technical indicators are oversold, the 50 Day Moving Average is considered a support 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.
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