• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Carmax Inc (NYSE:KMX)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Carmax Inc (NYSE:KMX) based on the price action in the company's shares. Today's price range of $76.73 and $77.05 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Carmax Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Carmax Inc (NYSE:KMX) defies analysts with a current price ($76.73) 5.3% above its average consensus price target of $72.62. Carmax Inc shares have support at the 200-day moving average (MA) of $68.37 and additional support at the 50-day MA of $64.39.

CarMax, Inc., through its subsidiaries, operates as a retailer of used vehicles in the United States. The company operates in two segments, CarMax Sales Operations and CarMax Auto Finance.

In the past 52 weeks, shares of Carmax Inc have traded between a low of $55.24 and a high of $81.67 and are now at $76.73, which is 39% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.4%.

SmarTrend recommended that subscribers consider buying shares of Carmax Inc on March 27th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $64.04. Since that recommendation, shares of Carmax Inc have risen 20.9%. We continue to monitor KMX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle carmax inc

Ticker(s): KMX