Carmax Crosses Below its 10-day MA (KMX)
Carmax (NYSE:KMX) crossed under its 10-day moving average of $51.88 on a volume of 182K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.
Over the past year, Carmax has traded in a range of $41.25 to $73.76 and is now at $51.74, 25% above that low. The 200-day and 50-day moving averages have moved 0.6% lower and 0.95% higher over the past week, respectively.
SmarTrend recommended that subscribers consider buying shares of Carmax on February 17th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $47.81. Since that recommendation, shares of Carmax have risen 9.8%. We continue to monitor KMX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses CarMax