AutoZone, Inc. (NYSE: NYSE:AZO ), the leading auto parts and accessories retailer, is set to report its third-quarter results today, Tuesday, September 24th, 2024, before the market opens. Investors and analysts alike are closely watching for key insights into the company’s performance, as the automotive retail sector braces for a pivotal earnings season....
Reasons for bullish bias: - Price bounce from channel support - Weekly hammer candle at support - Price bounced from horizontal support - No divergence - Positive Earnings Here are the recommended trading levels: Entry Level(CMP): 2817.00 Stop Loss Level: 2702.50 Take Profit Level 1: 2985.48 Take Profit Level 2: 3177.38 Take Profit Level 3: Open
CVA on the 30-minute chart shows a high tight flag pattern after the big report of profit on an annual report. Inflation is affecting auto stocks and recession is increasing the number of used care purchases while inflation hangs in there. URLs for both a description of the pattern and the news are embedded in the drawing. The RSI indicator shows a...
Analyzing the options chain and the chart patterns of AZO AutoZone prior to the earnings report this week, I would consider purchasing the 2500usd strike price Puts with an expiration date of 2023-10-20, for a premium of approximately $60.35. If these options prove to be profitable prior to the earnings release, I would sell at least half of them. Looking forward...
NYSE:AZO triggered a spike alert this morning on earnings announcement. Price action is at a support and worth a buy to play back to the top of the range and beyond. As an aside, used car prices have increased dramatically in the last few months due to the shortage of new car inventory coming to market. Some of this is due to material costs and companies like...
Pretty triangles. Looking for it to recover after it hits $680.
Autozone stock is one of the most oversold in the S&P500 and yielded a textbook doji candle today. Tuesday's supports were successfully tested. I'm looking for a bounce into moving averages at 770 and/or 790.
Doji watch: a doji in the makings after last week's selloff and very oversold readings. A close around these levels here at $753 could yield a bullish reversal doji.
Classic Head and Shoulder formation. AAP was in a great business till a) Starboard took hold of the board, and b) Their market started disappearing to online retailers. c) Newer E-cars require much less of this d) Their inventory and margin issues are still unresolved. And these are tough things to resolve. You either get them right from beginning (Walmart,...
Look at the history of these two stocks going back to 2011. They are identical in performance and yet AAP reports its earnings FIRST and the stock tanked 30 points or 15% last month. Autozone reports on Dec 8th and could face a similar fate as AAP since they are in the same business. Lately, new car sales have taken off to the upside and at some point...