KMXNotes on chart. Although both opportunities missed (pattern up and reversal some target) there are two more gaps below. Might be one to watch on market weakness.
KMX trade ideas
KMX gaps up to new highOverall KMX is not a great trending stock but has been in a bullish move for many years. So today I would only look for a near-term buy opportunity even though it has been trending well since breaking above the 2013 high ($53.08).
In late October price broke above the 2013 pivot high and this time the move stuck. There was a retest to turn previous resistance into support and since then price has continued to move up. On Friday price gapped up significantly (on the earnings announcement) with higher volume and a bullish bar.
The gap was rather large but all conditions point to a good possibility of price moving higher in the near-term (provided the gap isn't filled).
Bearish DH is a reliable Pattern (Downside target $52)Not every bearish pattern pays off but some are more reliable than others and so far BDH we had more than 122 trades based on this over the years, and 90% of them were winners. If you decide to take this trade, make your stop loss at the high of 11/5/2014 or at recent swing high which one you prefer with target price at 52 and 50 next 6 weeks. If you want a real time alerts with a precise levels try us www.2waytrading.com
KMX - flagStatus: Long
Cost Basis: 50.00
Horizontal S&R: monthly
Channel S&R: monthly
MA S&R: no
Stochastic turn/crossover above 80%: no
AO pullback >0= 85: yes
Price Pullback Fib >0.382:
Next Earnings date: Sep 23, 2014 (EST)
Increasing EPS: yes - beat
Increasing Rev: yes - beat
www.estimize.com
*stop 1 atr below swing low.
** first price target is 50% the move from entry price to previous high.
***No Biotech
Any feedback is welcomed! Thx
