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Carmax Bearish Moving Average Crossover Alert (KMX)

By Amy Schwartz

Today, shares of Carmax (NYSE:KMX) have crossed bearishly below their 10-day moving average of $51.54 on a volume of 321K shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, shares of Carmax have traded between a low of $41.25 and a high of $73.76 and are now at $51.07, which is 24% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has advanced 1.0%.

SmarTrend recommended that its subscribers protect gains by selling shares of Carmax on September 21st, 2016 by issuing a Downtrend alert when the shares were trading at $54.06. Since that call, shares of Carmax have fallen 4.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses CarMax

Ticker(s): KMX