"Personally I like AutoZone," said Danielle Shay, director of options at Simpler Trading, on Monday. "It's been very consistent over the course of the last 20 years. Even throughout 2008 and 2009, you just saw a little bit of a drop."
"Also, I think on a larger macro scale, once we do see this business cycle slow down and once we do see the economy stutter a little bit, companies like AutoZone who sell parts to people who want to fix their cars instead of buy a new one, I think they're going to remain very strong," said Shay. "It's getting down to the $1,030 level that was rock solid support in both… August and October of last year and if it breaks below that level of $1,030 it's going to be very negative," said Maley during the same segment. "It's very oversold so hopefully it could bounce. So, whichever way it breaks over the next week or so is going to be very important."
Source: News Formal (newsformal.com)
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