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  • Writer's pictureT. Livingston

AZO & ORLY Exhibit Strong Action

Auto parts makers AutoZone (AZO) and O'Reilly Automotive (ORLY) are two stocks that am I currently watching extremely closely. These companies first came across my radar as they displayed impressive relative strength during the first part of 2022. I really like the fact that both of these stocks held above their 200-day moving averages as the market went into correction.

As you most likely know, there is currently a shortage of new cars due to the COVID-19 pandemic and semiconductor chip shortage. Because of this, there has been an increased demand for used cars. This bodes well for companies like AZO and ORLY which sell auto parts. I currently own AZO and will be keeping ORLY on my watchlist.

Risk right. Sit tight.

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Full disclosure: I currently own AZO.

Disclaimer: This information is issued solely for informational and educational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. None of the information contained in this post constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable for any specific person. From time to time, the content creator or its affiliates may hold positions or other interests in securities mentioned in this blog or the associated Twitter and Instagram feeds. The stock or stocks presented are not to be considered a recommendation to buy any stock or stocks. This material does not take into account your particular investment objectives. Investors should consult their own financial or investment adviser before trading or acting upon any information provided. Past performance is not indicative of future results.

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