Saturday, April 21, 2012

21st April 2012 – Auto Zone needs a AZO fast relief.

Buy $

Sell $

Short $

Cover $

Stop Loss $

Profit / Losses

Duration

 

 

382.50

 

392.20

 

 

 

temp Reason for Buy / Sell / Short / Cover:

 

  1. Daily chart show that price has gapped up even before earning announcement, but after announcement, price is not advancing but instead slipping downward.
  1. Price did come back up to test the previous top, but kept failing.
  2. Intraday chart show that it is inside a consolidation phase.

 

Lesson Learnt:

 

  1. Market indexes are weak at this point. AAPL stock also got hit.
  1. All secondary indicators are daily chart are shouting for SHORT.
  1. It still has a support at daily 20MA line.
  1. This stock is hard to Short, very similar to AAPL stock.
  1. Monthly chart shows that volume has dropped very heavily.

 

Intraday Chart

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Historical Chart

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