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AutoZone(AZO - Get Report) is a retailer and a distributor of automotive replacement parts and accessories. This stock is trading up 4.6% at $374.56 in recent trading.
Today's Volume: 1.4 million
Average Volume: 457,372
Volume % Change: 377%
Shares of AZO are ripping higher today after the company reported a better-than-expected profit for its fiscal fourth quarter.
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From a technical perspective, AZO is ramping higher here back above both its 50-day and 200-day
moving averages with above-average volume. This move has also started to push AZO into
breakout territory, since its taking out some near-term overhead resistance at $373.71.
Traders should now look for long-biased trades in AZO as long as it's trending above $367.81 to $373.71 with strong upside volume flows. Look for a sustained move or close above those levels with volume that registers near or above 457,372 shares. If AZO can maintain that trend, especially above the breakout level of $373.31, then this stock will have a great chance of re-testing or possibly taking out its next major overhead resistance levels at $381.91 to $387.82.