This is just about the only stock making new highs while the rest of them make fresh new lows. One fact is that the world runs on cars. They are not buying new cars, but making every attempt to maintain what is left. They dont want to go to expensive dealerships, but making every attempt to service their own cars in the driveway or taking it to an autozone service center which is much cheaper then the dealership. They are also buying other accessories to keep that 100k+ mile Camry on the road like stereos. Autozone also offers other free services like checking the "check engine" light. If you see the economy continuing to trend down then Autozone is where its at. I stopped in one store where there were long lines of customers and it was difficult to find a spot out in the parking lot. The service area was jam packed.
Must be my area then, because the 2 nearest to me that I go into fairly regularly are virtually empty every time. Depending on what you need though, this place is the one to go to for many of the basic parts...and if you know what's up with your car, same deal.
I was on the conference call and the analysts were literally applauding at the end as the CEO guided up and beat the estimates. The next google is autozone. My price target is 300 at this point.
Up another couple percent today. I see resistance at 160 and anticipating a break up from there. Lots of unsold vehicles at dealerships and factories. All of the cars out there on the road are being maintained in driveways with 99 cent Champion spark plugs. Time to get a durazone battery. Dont knock it, made by Johnson controls. Best battery out there!! Get in the zone! Autozone!
AZO will have to break highs from yesterday, if not id say we're ripe for a short. http://stockcharts.com/h-sc/ui?s=AZO&p=W&b=5&g=0&id=p52421517491 , and I'll take the break of lows.