Is it time to take Autozone off autopilot under 340? | $AZO
The retail autopart supplier market has been returning parabolic gains since $AZO took off over 10 years ago in 2000. Since this date $AZO has went on to trade 399.10 a share before exhibiting some troubling to macro trend price action thus far in 2013.
This morning $MS cut the company’s rating to underweight from equal weight.
Morgan Stanley analyst David Gober, who said AutoZone is “likely not a great stock in 2013.” via Bloomberg
Under the 340 level could send this thin float stock down into 313 level. if this level fails you visit the launch pad of 266 last visited on 8/8/2011. IF the wheels really come off 169 should be a nice 2013 target.
|Weekly AZO not the green dashed lines …|