KMX closes lower for the 3rd day in a row


Carmax Inc (KMX) Technical Analysis Report for Aug 10, 2018 [< 1 min read]
Highlights
KMX closes below its opening price unable to hold early session gains
KMX closes lower for the 3rd day in a row
KMX breaks below previous session low
KMX falls to lowest close since June 29th
TQ Sentiment
Report Sentiment: 50% Bearish
Technical Forecast:
Overview

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 chart for KMX
Volatility

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.

Support/Resistance

Prices are trading close to the key resistance level at 74.11.

Trend

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.

Order Flow

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.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Market Conditions for Carmax Inc
Condition Forecast Direction Win Avg Worst Best Events
Bullish Engulfing Candle TQ Pro Members Only
Close to R1 Resistance TQ Pro Members Only
Decisive Up Move TQ Pro Members Only
White Candle TQ Pro Members Only
Low close to previous low TQ Pro Members Only
More market conditions identified for TQ Pro members...
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