An end to the primary up trend in Autozone Inc. (AZO) was recently signaled by breaks in the 50 day simple moving average and the bullish primary trend line.
Currently, the price is consolidating in a bear flag pattern. If the lower trendline of the flag is broken, a move to $235 is initially expected.
The charts below illustrate the break of the bullish primary trend and highlight the bear flag pattern.
Trigger: move below the lower line of the flag (currently $250)
Stop: confirmed move above the upper boundary line of the flag,
Aggressive entry: short on a bounce before the trigger.
Photo: Zev Spiro
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Disclaimer: The information contained herein is not guaranteed. This is not a solicitation of any order to buy or sell. This material is based upon information that I consider to be reliable, but I do not guarantee its completeness or accuracy. Assumptions, opinions and recommendations contained herein are subject to change without notice, and I am not obligated to update the information contained herein. I may have a position in the security or securities mentioned. This communication, including any attachments, is for the exclusive use of the intended recipient(s) and/or the intended recipient’s designees. Any use, retention or dissemination by a person other than the intended recipient is strictly prohibited. If you are not the intended recipient or designee, please notify the sender immediately by return e-mail and delete/destroy all copies of this communication.
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