Carmax has taken an almost 20% beating since May 5th.
We have 2 concurrent Harmonic Patterns (Shark and Gartley) which may reverse this trend.
Look for a basing in this area.
We also need broad markets to continue their ascent.
As always do your own due diligence
Earnings are due June 18th and depend on a continued strong used car market
S.
CarMax, Inc. operates as a retailer of used cars. The Company also sells vehicles through on-site wholesale auctions, as well as sells new vehicles under franchise agreements. It operates used car superstores, provides customers with a range of other related products and services, including the appraisal and purchase of vehicles directly from consumers, the sale...
The PEAD projected a Bullish outlook for $KMX after a Negative over reaction following its earnings release placing the stock in drift C
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According to the option market, KMX is looking to make a 6.5% move based off of $133. This meaning 6.5% to the upside or downside is expected.
Due to the current set-up, in my opinion CarMax could reach that 6.5% before earnings rolls out on Thursday.
Demand above $134 could trace a realistic move to test $138-$139 by earnings, and has room to even create a...
2 months box setup after breaking into all time highs. Carmax held up very well against market weakness possibly ready to start its next leg up and ultimately breaking this consolidation into new uncharted territories.
Carmax Inc (KMX)- OPERATES 216 USED CAR SUPERSTORES IN 106 U.S. MARKETS WITH PLANS TO OPEN 13 STORES IN 2019-20.
I was looking for overvalued companies a couple of days ago. KMX became a candidate due to its high debt and high multiples.
So, I staged an order, thinking I will review it one more time in the morning. But I forgot all about it and it got executed.
So, I am short KMX now. Looking at the chart looks like next week will tell if it was a lucky accident or not so...
The PEAD projected a neutral outlook for $KMX after a negative under reaction following its earning release placing the stock in Drift D
If you would like to see the Drift for another stock please message us. Also click on the Like Button if this was useful and follow us or join us.
Has a falling wedge and looks like it is trying to breakout today. This morning it has already broken above 20-day moving average. Volume has been building over last couple weeks. Looking for close above that 20-day moving average that is currently around $95.15.
