Barchart Stock Chart of the Day – March 11, 2009

Time for a follow-up on a previous Chart of the Day selection.

Back on February 23rd we featured AutoZone (AZO) , the national chain of auto parts stores, because it was one of a very few stocks making new highs. Today AZO again appears on Overall 52 Week Highs list, again making new highs. In the two weeks since we featured AZO as our Chart of the Day selection, the stock is up over 10% while the S&P 500 index, even after yesterday’s big run-up is down over 3%.




Barchart Opinions for AZO are:

    Short Term Indicators Average: 100% Buy
    Medium Term Indicators Average: 100% Buy
    Long Term Indicators Average: 100% Buy
    Overall Average: 100% Buy

Barchart Trend Spotter Signal : Long since February 18, 2009.

Sector Performance: AZO is a member of the Retail - Wholesale Auto Parts sector , where it is the 2nd  best performing stock out of 7 stocks in the sector. While the sector as a whole has a weighted Alpha of +2.13%, AZO itself has a weighted Alpha of +42.3% indicating that it is significantly stronger than the sector as a whole. To learn more about weighted Alpha, visit the Barchart Learning Center .

How we spotted this chart: We noticed AZO while viewing Barchart’s Overall 52-weeks highs page with a relative strength of 66.92%. We eliminated ETFs and stocks under $10.00 from consideration.

Recent Developments:

On March 3, 2009 AutoZone (AZO) reported earnings for the 2nd quarter at $2.03 per share, up from $1.67 in the same quarter last year.

Sales increased 8%.

Analysts had expected that the company would report EPS of $1.84.