Autozone breakout could go to $3,469 and even $3,609

Autozone has broken the resistance, and I think many traders will close their short positions and other long traders will follow the move.

Also Autozone is in a Bullish trend on a Macro Level, so the trend is in favor of the longs.

If we apply the Fibonacci levels correctly we find the first target at $3,469 and the second price target at $3,609.

The stop loss is going to be just under the last major low at $2,964.