Don't Ignore This Chart!

Getting out of the "Zone"

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Autozone (AZO) is setting up rather bearishly in a bear flag formation.  Divergences on the MACD within the retail space are weak at best and AZO has been a relative underperformer with its MACD unable to climb above the centerline, one of the few stocks having that difficulty.  Watch the volume because if the bear flag breaks to the downside on increasing volume, the resulting losses measure substantially lower. 

- Tom Bowley, InvestedCentral.com

AZO 9.29.09





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Tom Bowley
About the author: co-founded Invested Central in 2004 and served as the site's Chief Market Strategist for more than 10 years. Invested Central provides stock market education and guidance for those interested in making their own financial decisions. During his tenure at Invested Central, Tom co-hosted Market Open LIVE, a national radio broadcast that covered many of the largest markets across the U.S. In addition, he has spoken at various conferences throughout the United States and Canada and has taught thousands of traders across the globe how to trade equities more wisely with an emphasis on managing risk and intermarket relationships. Learn More
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