The Greedy Trader Weekly Analysis
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Uptrend Exhaustion

Uptrend Exhaustion stock alert presents a technical analysis stock market picking technique based on combination of technical indicators, stock trend analysis, trend following indicators and pattern recognition. Stock market alert is a warning signal. Uptrend Exhaustion alert indicates that long term uptrend is exhausted and probability of long term trend reversal is high. Uptrend exhaustion stock market alert presents relatively low to medium risk - high reword stock pick for overvalued stocks.

The strategy is based on selling (or taking a short) position on anticipation of uptrend reversal.

Uptrend Exhaustion

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- 3/15/2024 -
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Carmax Inc (KMX) Technical Analysis

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Summary:
Weekly :Williams' Percentage Range is overbought
Daily :Williams' Percentage Range is overboughtStochastic signal line moved below overbought areaThe price has fallen below the Parabolic SARBullish Doji Candlestick
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It was the negative week for the Carmax Inc (KMX). During the week, the KMX dropped -1.03 points, or -1.26%, and closed at 80.74 on Friday, March 15, 2024. Weekly volume was -33% below average.

Long-term trend: [See KMX long-term trend chart]
A long-term uptrend had started on December 22, 2022 at 52.10 and reached 87.50 on July 19, 2023. KMX gained -35.40 points, or -67.95%, in 29 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 63.09 and resistance is at 97.08. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a long-term trend.

Medium-term trend: [See KMX medium-term trend chart]
A medium-term downtrend had started on July 19, 2023 at 87.50 and reached 59.66 on October 30, 2023. KMX lost 27.84 points, or 31.82%, in 14 weeks. The chart has formed a Symmetric Triangle chart pattern. The trend support level is at 72.43 and resistance is at 82.47. A Symmetric Triangle pattern represents the area of indecision, where the movement direction is questioned. Chart pattern analysis usually considers a symmetric triangle chart pattern as a continuation formation which resolves in the direction of larger trend, but it also may mark the trend reversal. Use the following link to access a Symmetric Triangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Symmetric Triangle pattern in a medium-term trend.

Weekly Technical Indicators: [See KMX weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Williams' Percentage Range help.

The weekly MACD line is above its signal line since December 15, 2023. Use the following link to access a MACD help.

Short-term trend: [See KMX short-term trend chart]
A short-term uptrend had started on January 17, 2024 at 66.86 and reached 83.39 on March 13, 2024. KMX gained -16.53 points, or -24.72%, in 56 days. The chart has formed a Broadening Ascending Wedge chart pattern.

Daily Technical Indicators: [See KMX daily technical indicators chart]
Daily Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range. During the last week, daily Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal. Use the following link to access Lane's Stochastic help.

The daily MACD line is above its signal line since February 23, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.

During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

Candlestick pattern: [See KMX candlestick chart pattern]
On Friday the chart has formed a Bullish Doji Candlestick pattern. Use the Technical Stock Screener to see the list of stocks that had a Bullish Doji Candlestick pattern during the last week.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 76.04
Williams' Percentage Range (W%R) 19.30
Overbought
Lane's Stochastic (%D-Slow) 69.39
Greed/Fear Indicator (GFI) 75.37
Moving Average Converg./Diverg. (MACD) 2.23
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 68.48
Williams' Percentage Range (W%R) 14.10
Overbought
Lane's Stochastic (%D-Slow) 67.13
Greed/Fear Indicator (GFI) 68.90
Moving Average Converg./Diverg. (MACD) -0.18
Trading Signals
Description Value Chart
Upper Bollinger Band 86.52
Parabolic System 83.34
Monthly Trendline Resistance 82.47
Daily Stochastic Crossing 82.28
Price 80.74
Weekly Stochastic Crossing 78.85
20 Day Moving Average 77.79
50 Day Moving Average 74.07
Monthly Trendline Support 72.43
Lower Bollinger Band 70.53
Sector and Industry
Description Name Rank
Sector Consumer Discretionary 7
Industry Specialty Stores 110
Daily Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Low 66.86
Low Date 01/17/2024
High 83.39
High Date 03/13/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 59.66
Low Date 10/30/2023
High 84.20
High Date 12/21/2023
Description Value
Direction Down
Chart Pattern Symmetric Triangle
Status Valid
Resistance 82.47
Support 72.43
High 87.50
High Date 07/19/2023
Low 59.66
Low Date 10/30/2023
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 97.08
Support 63.09
Low 52.10
Low Date 12/22/2022
High 87.50
High Date 07/19/2023
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 155.98
High Date 11/08/2021
Low 52.10
Low Date 12/22/2022
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.