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

By Shiri Gupta

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. Yesterday's price range of $89.43 and $90.44 is within the prior day'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.

In the past 52 weeks, shares of Carmax Inc have traded between a low of $55.24 and a high of $92.01 and closed yesterday at $90.03, which is 63% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.6% while the 50-day MA has advanced 0.2%.

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.

Carmax Inc (NYSE:KMX) is currently priced 19.3% above its average consensus analyst price target of $72.62. Carmax Inc shares have support at the 50-day moving average (MA) of $85.19 and additional support at the 200-day MA of $75.88.

SmarTrend is tracking the current trend status for Carmax Inc and will alert subscribers who have KMX in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle carmax inc

Ticker(s): KMX