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Carmax Crosses Below its 10-day MA (KMX)

By Shiri Gupta

Today, shares of Carmax (NYSE:KMX) have crossed bearishly below their 10-day moving average of $59.30 on a volume of 833K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

Carmax share prices have moved between a 52-week high of $73.76 and a 52-week low of $41.25 and are now trading 38% above that low price at $57.04 per share. 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 19.1%. 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