AutoZone Is in an Uptrend

Auto parts chain AutoZone Inc. (AZO), first discussed here on March 30, 2009 at a price of $163.40, just keeps rolling along. Every four months, the stock is $10-20 higher. And with good reason. A modest U.S. economy and high unemployment means new car auto sales will remain below 30-year averages. AutoZone is benefiting from recession-related trends: adults unable to buy a new car are maintaining their existing used cars; others are purchasing a used car instead of a new one. Each trend is bullish for AZO. Continue reading the article.