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After Yesterday's Rally of 1.01% Shares Could Potentially Pullback

By James Quinn

Carmax Inc (NYSE:KMX) traded in a range yesterday that spanned from a low of $79.53 to a high of $80.23. Yesterday, the shares gained 1.0%, which took the trading range above the 3-day high of $79.93 on volume of 320,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

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 are now at $79.76, 40% above that low price. The 200-day and 50-day moving averages have moved 0.19% higher and 0.11% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Carmax Inc on May 4th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $64.10. Since that recommendation, shares of Carmax Inc have risen 23.0%. We continue to monitor KMX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders carmax inc

Ticker(s): KMX