Get Into the Buying Zone with AutoZone

Filed under: AutoZone Inc (AZO), Stocks to Buy

If you're looking for a stock that you can ride higher even if the market can't sustain a bullish rally, you might want to take a look at AutoZone, Inc. (AZO).



AutoZone has been on a tear since November 2009 -- rising at a 45-degree angle on its chart from $135 to $200. Whenever the overall market has pulled back, AutoZone has withstood the bearish pressure and moved higher.



Now, the stock is going to face some stiff resistance at $200, but most analysts believe AutoZone will make short work of that price point. Barclays Capital has set a price target for AutoZone at $210, UBS and Morgan Joseph have set their target at $215 and Argus has set its target at $234.



I'm watching for AutoZone to test resistance for just a little bit before breaking up and through.

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Get Into the Buying Zone with AutoZone originally appeared on BloggingStocks on Thu, 08 Jul 2010 17:00:00 EST. Please see our terms for use of feeds.

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