• Return to Headlines

After Yesterday's Rally of 1.75% Shares Could Potentially Pullback

By David Diaz

Carmax (NYSE:KMX) traded in a range yesterday that spanned from a low of $51.31 to a high of $52.44. Yesterday, the shares gained 1.8%, which took the trading range above the 3-day high of $51.91 on volume of 750,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Carmax share prices have moved between a 52-week high of $73.76 and a 52-week low of $41.25 and are now trading 27% above that low price at $52.22 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has advanced 1.0%.

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 7.3%. We continue to monitor KMX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders CarMax

Ticker(s): KMX