Get in the Zone: the Lotto Zone
If any of you are up for a gamble, this is a good play for a short position / long puts. AZO has had a monster rally and is starting to wind back to some pre-pandemic support levels I believe. Now this is a good company, but the stock will get caught up in a mess of short-term declines in the Retail Trade sector and this one has far to fall and a well-defined area of support to work off of.
Some solid indicators are saying this is well over-bought and flashing the sell signal. This means we may have reached the peak of it's new consolidation area and will begin grinding down to find the bottom. Thankfully we have a triple-top to tell us where that bottom will ultimately be. Options are expensive for shares this pricey, and bid-ask spread is huge, so maybe just an old-fashioned short is your ticket.
Some solid indicators are saying this is well over-bought and flashing the sell signal. This means we may have reached the peak of it's new consolidation area and will begin grinding down to find the bottom. Thankfully we have a triple-top to tell us where that bottom will ultimately be. Options are expensive for shares this pricey, and bid-ask spread is huge, so maybe just an old-fashioned short is your ticket.
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