Don't Ignore This Chart!

Vroom! Autozone Jumps the Gap (AZO)

Chip Anderson

Chip Anderson

President, StockCharts.com

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After gapping down during December and January, AutoZone gapped up significantly in mid February and zoomed upwards today hitting a high of 157 at one point.  So why is the Chaikin Money Flow not zooming upwards as well?  The CMF gave a big "sell" signal today because the stock closed well below the mid-point of today's candle and thus the CMF considers most of today's huge volume spike to be "selling" volume.  Will this become another case of "all gaps must be filled?"

Chip Anderson
About the author: is the founder and president of StockCharts.com. He founded the company after working as a Windows developer and corporate consultant at Microsoft from 1987 to 1997. Since 1999, Chip has guided the growth and development of StockCharts.com into a trusted financial enterprise and highly-valued resource in the industry. In this blog, Chip shares his tips and tricks on how to maximize the tools and resources available at StockCharts.com, and provides updates about new features or additions to the site. Learn More