Autozone is in a downtrend. Right now a descending triangle is forming.
Autozone will present earnings report on Tuesday, if the results do not follow, we can see the triangle break down.
In this situation the descent could be quite steep.
Watch that the triangle breaks down and confirms it by breaking the monthly support (S1)
However if the results will be good,
We will see an attempt to break the first monthly resistance (R1) and an attempt to rise to the double top formed previously.
Autozone will present earnings report on Tuesday, if the results do not follow, we can see the triangle break down.
In this situation the descent could be quite steep.
Watch that the triangle breaks down and confirms it by breaking the monthly support (S1)
However if the results will be good,
We will see an attempt to break the first monthly resistance (R1) and an attempt to rise to the double top formed previously.