• Return to Headlines

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

By David Diaz

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 $65.74 and $66.80 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.

Carmax Inc has overhead space with shares priced $66.09, or 9.0% below the average consensus analyst price target of $72.62. The stock should find initial resistance at its 50-day moving average (MA) of $69.01 and further resistance at its 200-day MA of $69.24.

In the past 52 weeks, Carmax Inc share prices have been bracketed by a low of $57.05 and a high of $81.67 and closed yesterday at $66.09, 16% above that low price. The 200-day and 50-day moving averages have moved 0.03% higher and 1.59% lower over the past week, respectively.

CarMax, Inc. sells at retail used cars and light trucks. The Company purchases, reconditions, and sells used vehicles in its superstores and franchises throughout the United States.

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