Getting out of the "Zone"
Autozone (AZO) is setting up rather bearishly in a bear flag formation. Divergences on the MACD within the retail space are weak at best and AZO has been a relative underperformer with its MACD unable to climb above the centerline, one of the few stocks having that difficulty. Watch the volume because if the bear flag breaks to the downside on increasing volume, the resulting losses measure substantially lower.
- Tom Bowley, InvestedCentral.com
