New Trade: Short AZO
Needs to pull back:
- Short-term overbought
- Printed a very tired candle today
- Reached the top of the Bollinger Band and got rejected
- No love at 200MA either
- Recently 50MA crossed over 200MA
[[AZO]] – AutoZone, will announce earnings on Dec 9.
So few stocks over $100 left, this is also a good reason to short it 🙂 It’s over $100! In this market!
Unfortunately, this stock is heavily manipulated, as Eddie Lampert (of Sears fame) holds a big stake in AZO, and he’s been unloading, though slowly. But even the most manipulated ones give in sooner or later. Bid/ask spread is huge: no market orders.