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Trading signal SHORT AutoZone Inc - AZO

US stock price signals and analysis

Good morning Traders,

Today, September 20,  Lift-Off offers a SHORT trading signal on the US stock AutoZone (Ticker: AZO) listed on the NYSE and part of the S&P500 index.

The stock touched its all-time high a short while ago, in August 2022,  narrowly exceeding the price of $2354 per share.

Yesterday it closed at $2097.59 per share, marking a -3.14%, bringing it to the lower end of the congestion that is forming.

The company is active in the Retail Sales sector specifically in the Retail Store Industry.

Given the current macro economic data suggesting a recession, the retail sales sector in the auto industry may experience a decline in sales, despite the fact that the company is currently performing better than its index

The current price is slightly overvalued relative to its intrinsic value, it shows a particularly low Cash-To-Debt figure of 0.03, and its reliability and financial strength parameters are very low,

But it manages to maintain a ROIC highly above WACC. estimates of future growth are likely, but given the current low financial strength, with debt rising during a likely recession, make us lean toward a speculative short on the stock.

Below chart of AutoZonen - AZO- with the signal detected by Lift-Off

Chart with major horizontal levels

Below comparative chart with S&P500 index

Some information about AutoZone Inc

AutoZone, Inc is engaged in the retail and distribution of automotive parts and accessories. 

The company offers, manufactures, sells, and operates diagnostic software and repair information in the automotive repair industry and e-commerce, which includes direct sales to customers. 

The company was founded by Joseph R. Hyde, III on July 4, 1979 and is headquartered in Memphis, TN.

Financial Overview: AZO's current market capitalization is $42,203B. The next earnings release date for AutoZone, Inc is December 6. The estimate is US$28.37.

Accounts, including revenue, expenses, profit and loss: AZO's total revenue for the latest quarter is US$3.87B, up 14.70% from the previous quarter. Net income in Q3 22 is $592.57M USD.

Overview data and accounts source: Tradingview.com

Signal board September 20, 2022

SHORT - AutoZone Inc - AZO

Input price: 2097.59 $ (and any opening price)

Area Stop loss or adjustment (partial stop close): 2300.00 $

Area Take profit 1: 1965 $ half position close and stop at 0

Area Take profit 2: 1775.00 $ (last major low)