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Carmax Bearish Moving Average Crossover Alert (KMX)

By David Diaz

Carmax (NYSE:KMX) shares have crossed bearishly below their 10-day moving average of $57.78 on a volume of 495K shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, Carmax share prices have been bracketed by a low of $41.25 and a high of $73.76 and are now at $56.58, 37% 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 subscribers consider buying shares of Carmax on July 7th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $50.54. Since that recommendation, shares of Carmax have risen 15.0%. We continue to monitor KMX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses CarMax

Ticker(s): KMX