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Carmax Inc Falls 1.04% on Heavy Volume: Watch For Potential Rebound

By David Diaz

Carmax Inc (NYSE:KMX) traded in a range yesterday that spanned from a low of $72.84 to a high of $74.01. Yesterday, the shares fell 1.0%, which took the trading range below the 3-day low of $74.12 on volume of 539,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Over the past year, Carmax Inc has traded in a range of $57.05 to $81.67 and is now at $73.47, 29% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.8%.

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 15.7%. 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