• Return to Headlines

Carmax Crosses Below its 10-day MA (KMX)

By Shiri Gupta

Carmax (NYSE:KMX) crossed under its 10-day moving average of $47.65 on a volume of 477K shares. Swing traders may find an opportunity 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 $47.39, 15% above that low price. Over the last five market days, 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 June 10th, 2016 by issuing a Downtrend alert when the shares were trading at $50.14. Since that call, shares of Carmax have fallen 4.2%. 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