KMX: About to drive into top gearThis is min away from reporting. Fully expect this to pop and run for days.
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KMX trade ideas
KMX: Potential Head and Shoulders - Sell Potential Head and Shoulders
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Basing for gap fill aboveNice recovery after a nasty plunge, could be putting in the base to form a right shoulder and fill the gap above.
Oversold with gap aboveThis may bounce around in the 90's before breaking 100 to fill the gap, keep on watch.
KMX Falling WedgeHas 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 $95.15.
KMXI WOULD GO SHORT UNDER 92. LEVELS BELOW ARE 89, 85
GO LONG OVER 100
TRADE IDEA: 90P 10/2. BID/ASK: .65/.85
Short to 92$Kmx failed to break out of it's consolidation and seems to be returning to 92$. Looks like a quick 4 point move if you can catch it.
CARMAX INC ChartHey investors, CARMAX INC is in a bullish push, a large number of paid buy volume and a sign of a continuation of bullishness due to the failed buyer's attempt. So there is a possibility of a rising recovery if the buyers respond present, for breakout the equilibrium zone can be confirmed by counting the bullish gap.
It is heading down the next high, in the decision area the price may have risen to fall back on top of it.
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CARMAX ($KMX) 🏎️ | Save Your Marriage Using Only Carmax🚗 CarMax (KMX) slayed it last earnings season. While projections are grim this quarter due to the COVID slowdown, the longterm bull trend of CarMax and its general performance as a company ultimately has us looking for more upside.
Not only does CarMax have a strong presence in the in-person used car economy, but it also has a strong presence in online car sales (which one would think helped it sustain COVID better than others; we'll know when the numbers come out).
Another bullish thing CarMax has going for it is that some smaller used car dealers are having issues getting credit for customers, while bigger players like CarMax don't have this issue.
Given all that we are betting on bullish continuation after finding support, although there is a path for the bears here if this CarMax run turns out to be lemon.
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Support:
Our first notable support for KMX is the S1 bullish S/R flip, orderblock, and gap-fill cluster. There is a lot going on here, and all that confluence makes it a logical spot for the bulls to find support.
If the bulls can't hold S1, they will have to be cautious as the bears will have a path to victory in front of them. Both bulls and bears will be looking at the S2 cluster for direction. Does a test of S2 give us a dead cat up to previous support as resistance? Or, can the bulls take the S2 momentum and run with it? We won't know unless we get there, but the bulls should be hoping we never have to find out.
Resistance:
The first resistance for the bulls is the R1 orderblock and gap fill at the prior swing high. The logic here is simple, we are likely to find resistance at the previous top.
Speaking of previous tops, the R2 orderblock cluster at the All-Time High (ATH) is bound to see a reaction if and when we test it. Of course, testing this level is something the bulls are hoping for, and there isn't much for the bears to do if we do.
Summary:
CarMax has been bullish for about a decade, we aren't rushing to bet against this one, to say the least. Still, a bit more correction before the bulls continue their stampede isn't out of the question. Does S1 hold? Bulls better hope so, because things get a lot less bullish below S1.
Resources:
www.earningswhispers.com + www.caranddriver.com
Bearish looking Upward wedgeIf you look at the 1M and 1W, you will see solid resistance and at the 1W you can see kind of like an upward wedge and a red inverted hammer wick. Zoom in a little to 1D and we will see kind of like an upward wedge formation going on, and that it is currently retracing from resistance, but some consolidation here could happen. From here on we will need to wait a few days, perhaps until next week or so to see what will happen next because nothing is guaranteed.
I am looking for a nice short entry at the 1H...
KMX retested bearish trendline, failed with bearish engulfingKMX retested on friday the multi month bearish trendline and failed again to make a new high. It failed with a bearish engulfing with a very nice profit potential at the last significant swing low.
Only downside is the open window right below the bearish engulfing pattern, but if this can get closed, the last swing low is highly probablistic.
Put in a tight stop and lets see what the market does. :)
KMX - DAILY CHART Hi, today we are going to talk about CarMax and its current landscape.
CarMax is poised to receive increasing attention from the market as relevant events are taking place. The company reports its earnings on Friday before the opening bell.
With a good year, this report could be an event that will boost its positive momentum. The auto retail company has been the sector spearhead. With solid fundamentals, the company can continue to be benefited from the changes that e-commerce has inflicted on the automotive retail industry, which has been responsible for a small percentage of the sales, holding them a huge potential of growth.
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Three Percent Trade Idea: Go long KMXHere is a great opportunity to pick up KMX .
At Three Percent Trades we have a price target of $96.00 / share, which is a potential upside of 9.9%.
We use a combination of fundamentals & technical analysis to trade high probability set-ups, and believe this is a great opportunity to take advantage.
Carmax bullish into earnings The new car market may be struggling but the second hand market is thriving. One disadvantage of building good cars is that folks are now tending to keep them longer, secondly recent sales initiatives like a 7 year warranty on new cars, has meant that why change when covered by warranty. Companies like Carmax are in the sweet spot of this second hand economy, as earnings approach we expect a beat.
Carmax Ready to Blow Up Just Before EarningsCarmax has got a good chance to go up pre and post earnings the Symbol has just hit the trend / resistance line.
Earnings are expected to be good when they are released pre market on Friday
KMX: Cup and Handle Breakout Potential on EarningsI've bough a few cars from KMX over the years, and it's no surprise to me when a company I do business with does well financially on a macro scale. KMX has an excellent model with regional branches and locations handling sales and maintenance and even finance, so they also tap into the financial services marketplace. New sales in the US are slightly down from 2018 to 2019, but not by an alarming margin, but that plays into the hand of used auto sales marketplaces. This is a firm that has had successive growth year over year, and I think they'll do it again. Volume picked back up, and I'm confident that this cup and handle pattern is setting up well. Traders attempting to short at the end of last week finally threw in the towel leaving almost no one shorting this stock right now.
The technicals show KMX breaking out of a horizontal channel after a period of consolidation in May. To their credit, they lost no value for the month of April and would have been a good long term hold the entire if you bought back in late January or early February. They just excceeded and held their September 2018 highest high for three days through a broader short-term consolidation of the US stock market after a record week last week, so this all looks good to me. All short term moving averages are above longer term averages, and the recent consolidation in May has given up some pressure on price strength giving the stock more room to breath. MACD and ADX show the current uptrend picking back up, and the quarterly rate of change indicator is still rising.
All signs point to yes on this one.
$KMX Carmax is in the sweet spot of Retail. BullishEarnings are approaching and NYSE:KMX is one of the sweet spots in retail. New car sales are declining which limits the supply of second hand cars , this in turn increases demand and prices in the second hand market, improving margins and earnings. The same can be said for parts suppliers etc as cars are been maintained for longer. The chart illustrates just how good the sector is, the price is about to bang heads with the ATH level once again and earnings may be the stimulus to get past that level. Set alert for break above $82.
AVERAGE ANALYSTS PRICE TARGET $83
AVERAGE ANALYSTS RECOMMENDATION BUY
P/E RATIO 16
COMPANY PROFILE
CarMax, Inc. is as a holding company, which engages in the retail of used vehicles and wholesale vehicle auction operator. It operates through the CarMax Sales Operations and CarMax Auto Finance (CAF) business segments. The CarMax Sales Operations segment consists of all aspects of its auto merchandising and service operations. The CAF segment provides vehicle financing to customers buying retail vehicles. The company was founded by Richard L. Sharp and William Austin Ligon in September 1993 and is headquartered in Richmond, VA.
