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AutoZone Set to Possibly Pullback After Yesterday's Rally of 1.71%
Jan 15, 2013 (SmarTrend(R) News Watch via COMTEX) --
AutoZone (NYSE:AZO) traded in a range yesterday that spanned from a low of $342.27 to a high of $352.79. Yesterday, the shares gained 1.7%, which took the trading range above the 3-day high of $352.16 on volume of 565,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
SmarTrend recommended that its subscribers protect gains by selling shares of AutoZone on December 5th, 2012 by issuing a Downtrend alert when the shares were trading at $362.51. Since that call, shares of AutoZone have fallen 4.8%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
In the past 52 weeks, shares of AutoZone have traded between a low of $341.98 and a high of $399.10 and are now at $351.39, which is 3% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.4%.
Write to Chip Brian at cbrian@mysmartrend.com
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SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com
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