AZO - Setting Up for the Next Leg
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AUTOZONE's supply chain may be severely impacted due to disruption in foreign countries' production capability. However, if we are actually going into recession AZO is poised to do well as new vehicle sales will slow and people would be inclined to repair their vehicles at home; AZO is a clear beneficiary. I do think we need a strong close above 800 to begin accumulating a position but FAVOR a decline to the rising trend line detailed on the chart above. I'll update when I take a position.
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AUTOZONE's supply chain may be severely impacted due to disruption in foreign countries' production capability. However, if we are actually going into recession AZO is poised to do well as new vehicle sales will slow and people would be inclined to repair their vehicles at home; AZO is a clear beneficiary. I do think we need a strong close above 800 to begin accumulating a position but FAVOR a decline to the rising trend line detailed on the chart above. I'll update when I take a position.
If you found this to be insightful or helpful, please show appreciation by hitting the like button. If you want more ideas I invite you to follow as well! I try to be here for all of my followers with any questions they might have. Feel free to shoot me a DM or comment below to start a conversation!
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