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Autozone - Barchart's Chart Of The Day

Jan. 27, 2014 6:33 PM ETAZO
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Long Only, Momentum, Portfolio Strategy

Seeking Alpha Analyst Since 2009

Jim Van Meerten writes on financial subjects here and on Barchart Portfolio Blogs and Seeking Alpha. He earned a BS in Accounting and Business Administration from Berry College; a Juris Doctorate from the Woodrow Wilson School of Law; and attended post-baccalaureate and graduate courses in Business Administration, Quantitative Math, and Education at Florida Atlantic University, Georgia State University and University of North Carolina at Charlotte. In the past he has been an accountant, attorney, adjunct professor in Business Law, Accounting and Internal Auditing, financial advisor, supervisory principal, and compliance officer. He also passed the Georgia CPA Exam, the Certified Internal Auditor Exam, and the FINRA Series 7, 24 and 9/10 exams.He is presently also a contributor on MSN Top Stocks Blog, Motley Fool and is a member of the M100 on Marketocracy, an elete honor chosen by the editors of Marketocracy as being in the top 100 portfolio managers of over 100,000 portfoiios they review. He would enjoy hearing your comments at JimVanMeerten@gmail.com.

The Chart of the Day is Autozone (AZO). Believe it or not there were a few stocks that hit all time highs today. I found the stock by sorting theAll Time High List for frequency in the last month and AZO was right at the top of the list. In fact since the Trend Spotter signaled a buy on 10/17 the stock is up 17.35%.

Autozone is a specialty retailer of automotive parts and accessories, primarily focusing on do-it-yourself customers. Each of the company's auto parts stores carries an extensive product line for cars, vans and light trucks, including new and re-manufactured automotive hard parts, maintenance items, and accessories. Many of the company's domestic auto parts stores also has a commercial sales program, which provides commercial credit and prompt delivery of parts and other products to local repair garages, dealers and service stations.

Barchart's Opinion trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.

Barchart technical indicators:

  • 80% Barchart technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 11 new highs and up 5.61% in the last month
  • Relative Strength Index 68.94%
  • Barchart computes a technical support level at 490.83
  • Recently traded at 503.60 with a 50 day moving average of 474.74

Fundamental factors:


  • Market Cap $17.14 billion
  • P/E 17.77
  • Revenue predicted to grow by 3.20% this year and another 4.80% next year
  • Earnings estimated to increase 12.90% this year, an additional 13.10% next year and continue to increase at an annual rate of 13.25% for the next 5 years
  • Wall Street analysts issued 8 strong buy, 14 buy and 11 hold recommendations on the stock
  • Financial Strength is B

This is one of the few stocks that is swimming against the tide. If you have it please hang on to it but I personally am not adding any new positions until the market has some support.

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