KMX closes lower for the 3rd day in a row
CarMax Inc (KMX) Technical Analysis Report for Aug 10, 2018 | by Techniquant Editorial Team
Moving lower for the 3rd day in a row, KMX ended the week -2.16% lower at 73.08 after losing $1.09 (-1.47%) today. Today's closing price of 73.08 marks the lowest close since June 29th. Trading $0.43 higher after the open, the stock was unable to hold its gains as the bears took control ending the day below its opening price. Closing below Thursday's low at 74.12, the share confirms its breakout through the previous session's low having traded $1.28 below it intraday.
Daily Candlestick Chart (KMX as at Aug 10, 2018):
Friday's trading range was $1.17 (1.59%), that's slightly below last trading month's daily average range of $1.34. Things look different on a weekly scale, where volatility is slightly above the markets average with the monthly volatility being below average.
Prices are trading close to the key resistance level at 74.11.
Although the market is currently in a short-term down trend, this might just be a correction, as the medium and long term trends are both positive.
Selling could accelerate should prices move below the close-by swing low at 72.65 where further sell stops might get triggered. Further selling could move prices lower should the market test July's nearby low at 72.08.