A clean Descending Triangle often precedes a big move. Validate your entry.
Bearish continuation pattern.
Consolidation. Can break either way.
Traders are watching AutoZone (AZO) as price action tightens. The stock is trading at $3508.5, down 0.17% on the day. The primary technical feature is a Descending Triangle formation. Volume is average (1.2x avg) with moderate trend strength (22.5). A potential breakout level is identified at $3281.23, targeting $2777.86 with support near $3578.12 (R:R 1.7).
What is your outlook on AZO?