Bearish DailyPlay for Wednesday September 21st, 2016 – AutoZone (AZO)
The bearish DailyPlay we chose for Wednesday September 21st is AutoZone (AZO). AZO is part of the Consumer Discretionary Sector (XLY). Over the last month, XLY has experienced a 3.30% move lower and it’s 1m and 6m trend turned bearish on 8/13 breaking below its $80 support level.
AutoZone’s 1m and 6m trends turned bearish on 8/28 and recently bounced lower off its $750 resistance level. With a technical score of 2 (out of 10), AZO looks positioned to continue this strong bearish trend lower.