Investors might be looking to track the ATR or Average True Range of the stock. Currently, Autozone (AZO) has a 14-day ATR of 15.57. The Average True Range is an investor tool used to measure stock volatility. The ATR is not used to figure out price direction, just to measure volatility. The ATR is an indicator developed by J. Welles Wilder. Wilder has developed multiple indicators that are still quite popular in today’s investing landscape. The general interpretation of the ATR is the higher the ATR value, the higher the volatility.
The Williams Percent Range or Williams %R is another technical indicator worth checking out. Autozone (AZO) currently has a 14 day Williams %R of -6.46. The Williams %R fluctuates between 0 and -100 measuring whether a security is overbought or oversold. The Williams %R is similar to the Stochastic Oscillator except it is plotted upside-down. Levels above -20 may indicate the stock may be considered is overbought. If the indicator travels under -80, this may signal that the stock is oversold. Chart analysts may also use the indicator to project possible price reversals and to define trends.
The Average Directional Index or ADX is technical analysis indicator used to discern if a market is trending or not trending. The ADX alone measures trend strength but not direction. Using the ADX with the Plus Directional Indicator (+DI) and Minus Directional Indicator (-DI) may help determine the direction of the trend as well as the overall momentum. Many traders will use the ADX alongside other indicators in order to help spot proper trading entry/exit points. Currently, the 14-day ADX for Autozone (AZO) is 30.86. Generally speaking, an ADX value from 0-25 would indicate an absent or weak trend. A value of 25-50 would indicate a strong trend. A value of 50-75 would signal a very strong trend, and a value of 75-100 would indicate an extremely strong trend.
Traders may be leaning on technical stock analysis to help with investing decisions. Autozone (AZO) currently has a 14-day Commodity Channel Index (CCI) of 202.85. Despite the name, CCI can be used on other investment tools such as stocks. The CCI was designed to typically stay within the reading of -100 to +100. Traders may use the indicator to determine stock trends or to identify overbought/oversold conditions. A CCI reading above +100 would imply that the stock is overbought and possibly ready for a correction. On the other hand, a reading of -100 would imply that the stock is oversold and possibly set for a rally.
Traders are paying renewed attention to shares of Autozone (AZO). The current 14-day RSI is presently sitting at 80.67, the 7-day is 88.79, and the 3-day is 95.68. The RSI, or Relative Strength Index is a popular oscillating indicator among traders and investors. The RSI operates in a range-bound area with values between 0 and 100. When the RSI line moves up, the stock may be experiencing strength. The opposite is the case when the RSI line is heading lower. Different time periods may be used when using the RSI indicator. The RSI may be more volatile using a shorter period of time. Many traders keep an eye on the 30 and 70 marks on the RSI scale. A move above 70 is widely considered to show the stock as overbought, and a move below 30 would indicate that the stock may be oversold. Traders may use these levels to help identify stock price reversals.
Investors may be intent on creating unique strategies when approaching the equity markets. Individuals with longer-term mindsets may have completely different strategies than those who trade in the short-term. Whatever class they fall under, investors may have to decide how aggressive they want to be in order to capitalize on these strategies. Navigating the bull market may make things a bit easier for some and much harder for others. Many investors will set their sights on dips and corrections. This may prove to be a successful strategy, but this may also create many missed opportunities. Keeping track of key economic data along with market trends and earnings information typically seems to be a boon to any strategy. Highly active traders may keep close watch after the markets have a sleepy session or two. Investors staying the course might actually be relieved when activity cools a bit.