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| A well known sentiment indicator is the NVI or Negative Volume Index for AutoZone, Inc.. Here the Indicator Plot is the Calibrated NVI which incorporates several enhancements suggested by Norman Fosback. The plot is the proportion of the daily NVI as compared to the past year's average daily NVI. The plot is orange below the unity line (neutral implication) and green above (bullish). |
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How to read the Calibrated NVI for AutoZone, Inc.: In its modern form, the NVI is an elegant indicator, but requires some care in interpretation. The orange plot (NVI less than unity) is not considered bearish because a lowering of the NVI is a natural tendancy under many market conditions. When the plot is in the green area, it indicates that prices are rising on low volume sessions, which is contrary to the normal condition. This can be a tip off to "accumulation behaviour" on the part of someone or some group in the market. The indicator seems most significant when prices are falling and the NVI is rising, which indicates a market that is "buying on the dips". |
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| Because the NVI operates over a somewhat longer time frame than most technical indicators, it is of interest to track it over a longer period to get a feeling for how it works. This chart for AutoZone, Inc. covers the few years before the start of the chart at the top of the page. |
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| Weekly average closing altitude was 43.44 percent for the week ending 3/5/2010. Past values of the Closing Altitude indicator are marked by the blue line. 50 percent closing altitude is marked as the midline. If the closing prices happened to be exactly halfway between the high and low, they would be plotted on this midline. Values above the midline indicate that day traders have positive feelings toward AZO while traces below the midline are a sign that speculators are afraid to hold on to the issue overnight. The latest data indicates a downward trend, with a slope of -37.36. AutoZone, Inc. stock prices are shown in red. |
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| The Volume Portion is low for the latest data at 0.68. Here the blue indicates the proportion between Up Volume and Down Volume. Again, the horizontal blue line represents the neutral point. AutoZone, Inc. share prices are overlaid in red. This is an important indicator for market timing, as a change in direction of the volume line may happen before the price turns.The last tic shows an uptrend in the volume portion of 0.39. |
Influence of Investor Sentiment on AZO stock prices. Also, roadmap and Summary of most effective indicators: |
| In the news, Wednesday, March 17, 2010: An unfavorable condition has developed with Coca-Cola Enterprises Inc., ticker symbol CCE. Also, there are breaking events concerning ConocoPhillips (COP) and CONSOL Energy Inc. (CNX) |