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Next Resistance Level for AutoZone (AZO) is $373.15

Published on Mon, 01/28/2013 - 13:40
By Adrienne Chilton

AutoZone (NYSE:AZO) has opened bullishly above the pivot of $363.21 today and has reached the first level of resistance at $369.25. Analysts will be watching for a cross of the next upside pivot targets of $373.15 and $383.09.

Potential upside of 11.2% exists for AutoZone, based on a current level of $369.22 and analysts' average consensus price target of $410.71. The stock should hit resistance at its 200-day moving average (MA) of $371.20, as well as support at its 50-day MA of $362.16.

AutoZone, Inc. is a specialty retailer of automotive replacement parts and accessories. The Company offers an extensive product line for cars, sport utility vehicles, vans and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories and non-automotive products. Autozone operates in United States and Puerto Rico, and Mexico.

AutoZone share prices have moved between a 52-week high of $399.10 and a 52-week low of $341.98 and are now trading 8% above that low price at $369.22 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.4%.

By Adrienne Chilton
achilton@fnno.com

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