KMX climbs to highest close ever

CarMax Inc (KMX) Technical Analysis Report for Feb 20, 2020 | by Techniquant Editorial Team


KMX rises to highest close ever
KMX closes higher for the 2nd day in a row


Moving higher for the 2nd day in a row, KMX finished Thursday at 101.90 gaining $1.77 (1.77%), notably outperforming the S&P 500 (-0.38%). Today's close at 101.90 marks the highest recorded closing price ever.

Daily Candlestick Chart (KMX as at Feb 20, 2020):

Daily technical analysis candlestick chart for CarMax Inc (KMX) as at Feb 20, 2020

Thursday's trading range has been $2.63 (2.61%), that's far above the last trading month's daily average range of $1.85. Weekly volatility is also higher, being above the market's average weekly trading range. The longer-term, monthly volatility is currently lower than usual for KMX.

Prices are trading close to the key technical support level at 100.49 (S1).

Crossing above the upper Bollinger Band for the first time since January 23rd, prices have shown unusually strong upward momentum in the short-term. This could either indicate a potential buying climax after which prices might head back down towards the mean of the Bollinger Bands at 98.00 or signal the beginning of a strong momentum breakout leading to even higher prices. The last time prices broke out above the upper Bollinger Band on January 21st, KMX gained 1.51% on the following trading day.

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Among the five market conditions that our pattern recognition engine identified today, the statistics for the Price Action based market condition "2 Consecutive Higher Closes" stand out. Its common bullish interpretation has been confirmed for CarMax. Out of 322 times, KMX closed higher 54.35% of the time on the next trading day after the market condition occurred. The optimal exit for swing trading this condition on the long side has been after 10 trading days, showing a win rate of 56.21% with an average market move of 0.89%.

Market Conditions for KMX as at Feb 20, 2020

Loading Market Conditions for KMX (CarMax Inc)...
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