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Specialty Stores Industry Stocks Technical Analysis - KMXArchive
- 11/15/2024 -
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Carmax Inc (KMX) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a third consecutive positive week for the Carmax Inc (KMX). During the week, the KMX gained 2.33 points, or 3.08%, and closed at 77.87 on Friday, November 15, 2024. Weekly volume was -22% below average.
KMX is a member of Consumer Discretionary Sector. Consumer Discretionary is the second most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 Long-term trend: [See KMX long-term trend chart]
A long-term downtrend had started on November 8, 2021 at 155.98 and reached 52.10 on December 22, 2022. KMX lost 103.88 points, or 66.60%, in 58 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (69.03) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. KMX may retest the broken resistance line. It is considered to be a support line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.
 Medium-term trend: [See KMX medium-term trend chart]
A medium-term uptrend had started on December 22, 2022 at 52.10 and reached 88.22 on March 28, 2024. KMX gained -36.12 points, or -69.33%, in 66 weeks. The chart has formed a Ascending Triangle chart pattern. The trend support level is at 70.87 and resistance is at 87.19. An Ascending Triangle is a variation of triangle formation that has a flat resistance line and rising support line. The higher lows indicate an increasing demand and give the ascending triangle definitive bullish bias. An Ascending Triangle usually represents an accumulation stage in bullish market. An Ascending Triangle is considered to be a continuation pattern, especially in an uptrend, but it may also mark a reversal in a downtrend. Use the following link to access a Ascending Triangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Ascending Triangle pattern in a medium-term trend.
 Weekly Technical Indicators: [See KMX weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since September 20, 2024. The distance between MACD and the signal line is low and getting smaller. 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 October 10, 2024 at 69.95 and reached 79.65 on November 14, 2024. KMX gained -9.70 points, or -13.87%, in 35 days. The chart has formed a Ascending Triangle 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. 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 daily MACD line is above its signal line since October 15, 2024. This is an indication that the short-term trend is up.
During the last week, the price has advanced above the 50 Day Moving Average. Such crossover is considered a bullish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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