AZO trade ideas
AZO Approaching Supoprt, Potential Bounce! AZO is approaching our first support at 795.50 (horizontal overlap support, 100%, 61.8% Fibonacci extension, 50%, 23.6% Fibonacci retracement) where price might bounce to our resistance at 894.11 (horizontal swing high resistance).
Stochastic (55,5,3) is also approaching support where we might see a corresponding bounce in price.
AZO approaching suport, potential bounce! AZO is approaching our first support at 795.92 (horizontal overlap support, 100% Fibonacci extension, 23.6% Fibonacci retracement) where a strong bounce might occur above this level pushing price up to our major resistance at 893.64 (horizontal swing high resistance).
Stochastic (34,5,3) is also approaching support where we might see a corresponding bounce in price.
Possible H&S on trendline rejectionWatching to see if this bounces off either top of channel or downward trendline. PT is major support at $792 with possible more room to fall.
Find and Trade the Winners....Not the Losers!!!Here is how I trade:
1. I find WINNING investments (aka: Above the 200 hour EMA)
2. I look for clear winning scenarios (aka: Low crossing stochastics)
3. I play the odds in my favor (aka: Using stop losses and take profit levels)
Way too many people have a pride for the economy. They think that it can never go down. They are almost insulted by the drops in the market. I look at things unbiased. I don't care what is going up. I don't care what is going down. I simply find what is going up and I trade that. I don't make things complicated. I don't buy into falling assets. I play this game with the odds in my favor.
You might LOVE NASDAQ:AAPL . But....right now they are getting smacked along with all of the other companies that people love. If you are a trader, why would you join the bloodbath?
Here is something good to think about:
Stocks move in trends and it is much more likely for a stock too continue in its current trend than too switch directions (this is a FACT. Think about it, the reversal happens every once and awhile while the trends occur all of the time).
So why are so many people out here trying to pick the reversals? Why do so many people buy into stocks that are clearly in bearish trends?
I think what I said above explains why so many people lose.
This is a game of probabilities. Play WITH the odds. Not against them.
It all comes down to whether you are in this for the long or the short term.
Long-Term Thinkers:
- Play with the odds
- Take their emotions out of it
- Have high win-rates
- Track their trades
- Make money
Short-Term Thinkers:
- Play against the odds in hopes of massive returns
- Get emotional and make rash choices
- Lose more than they win
- Think they are good traders since they don't track anything
- Lose money
It's your choice who you want to be.
Still has some room to go. I may adjust the target.If trade works out, I'll adjust my stop loss as new supply zones form. Target is set all the way down on purpose of adjusting the stop loss.
AZO: An earning beat but a sales miss caused AZO to drop 10%2 days ago. I am not crazy about AZO. It has fallen twice in recent memory to HnS patterns. However, the recent fall has followed the general market with a major correction after the Jan 26 top. If the market goes on a wave 5 now and AZO follows, there is a good chance it will get to a new ATH or at least close to the previous Jan 26 top. The rewards to risk ratio is very high imo.
Head and Shoulders TF T&I XXVIII Chart II StocksThis is an almost complete Head and Shoulders Pattern, on Autozone INC (AZO). The vertical distance from the head to the neckline is the minimun objective. The chart shows that the movement is almost complete.
$AZO Breaking 200d - Bullish$AZO Breaking 200d - a lot of room back up toward $800 level. Expecting some resistance at $720 level.
AZO Bear FlagAfter missing earnings on the 27th of Feb, had a huge sell off and since has had tight consolidation around ~670-~645. Could see a good continuation breakdown depending on market conditions and volume.
PT 200SMA
AZO: Parabolic wave 5 failed to fill gap from a year ago. Ownerssold $26M shares. Shares on upper BB. Oscillators overbought. Wave 5 completed and ABC correction started.
AZOExpecting retract with fibo to come back and break @ 604 aprox. Needs confirmation in a few days because of EMA and MACD not giving bullish signals.
AZOI make stock analyses before the opening, these levels i draw are strong support/resistance and are the most powerfull on the same day. So i use them the moment when the market opens.
You can see somethimes i use 2 - 3 levels because i dont know where the market will open.
when the market open i see witch levels are still valid if it gaps above or under my level this one cannot used anymore.
If price come close to my level i place a limit order.
time frame i use are 5-10 min candles if price close right under or below the level with few penny's its of the table ! my risk reward ratio is 2:1 would be good to use trial these are scalp trades in high illiquidity market conditions !
Sell AZO here...Stop at 576.65....aim for a 5 to 1 resultAZO has broken out of MArket Profile Pattern. Rallied back into the Unfair Low today but failed to close above it. Should continue lower
Autodesk - possible short?„Blaues Trendfolgesystem“ - possible short in Autodesk - this is no advice!
Short - AZO Distribution Break OutAZO appears to be close to breaking out of a distribution phase. Target Price $567.
