AutoZone, Inc.Short
AZO triple top and lots of indicators
SHORT - AZO
SL: 1193.13 (Suggested by our algorithmic system)
TP: 1123.62 (Suggested by our algorithmic system)
Reasons behind this idea:
1. Tested resistance level 3 times and failed to break through
2. Volume indicators suggest that AZO is in a distribution phase or in the supply zone
3. RSI, MACD, Stochastic indicators showing some bearish divergence
---------- Chart Drawings ----------
Blue Solid Line: Support Trendline
Red Solid Line: Resistance Trendline
Red Rectangle Box: Resistance Level
Blue Rectangle Box: Support Level
Purple Vertical Line: Suggested Stoploss by our algorithmic system
Green Vertical Line: Suggested Stoploss by our algorithmic system
Trade idea from our mobile app: ibb.co/640BFCT (Timestamp is in Australian Sydney Time UTC+7)
Please trade responsibly and good luck!
SL: 1193.13 (Suggested by our algorithmic system)
TP: 1123.62 (Suggested by our algorithmic system)
Reasons behind this idea:
1. Tested resistance level 3 times and failed to break through
2. Volume indicators suggest that AZO is in a distribution phase or in the supply zone
3. RSI, MACD, Stochastic indicators showing some bearish divergence
---------- Chart Drawings ----------
Blue Solid Line: Support Trendline
Red Solid Line: Resistance Trendline
Red Rectangle Box: Resistance Level
Blue Rectangle Box: Support Level
Purple Vertical Line: Suggested Stoploss by our algorithmic system
Green Vertical Line: Suggested Stoploss by our algorithmic system
Trade idea from our mobile app: ibb.co/640BFCT (Timestamp is in Australian Sydney Time UTC+7)
Please trade responsibly and good luck!
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