November 16, 2010
Shares of the Autozone Inc (NYSE: AZO) have not suffered through a correction since the summer of 2009. And that was a very mild one.
Autozone is a retailer and distributor of automotive parts and accessories. At the end of fiscal 2010, the company operated 4,389 domestic stores in the United States (U.S.) and Puerto Rico, and 238 stores in Mexico.
With seemingly unstoppable uptrend, this is a stock to buy at any time but with a trailing stop. In this case, there is good support at about $232.00 which is the low reached in October and also the 200-day rising moving average.
For traders that buy news highs, there is a buy signal almost every day with Autozone.
The Fibtimer.com (http://www.fibtimer.com) Stock Timing Strategy does not hold a position in the Autozone.
Disclosure: The Fibtimer.com (www.fibtimer.com) Stock Timing Strategy does not hold a position in the Autozone.