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Downtrend ResistanceArchive
- 4/5/2024 -
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Carmax Inc (KMX) Technical Analysis
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| Summary:
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| | It was the negative week for the Carmax Inc (KMX). During the week, the KMX dropped -5.62 points, or -6.45%, and closed at 81.49 on Friday, April 5, 2024. Weekly volume was 14% above average.
 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 (63.49) is broken. A broken support is considered to be a long-term bullish signal. 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 Broadening Ascending Wedge chart pattern. The trend support level is at 63.56 and resistance is at 97.89. 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 medium-term trend.
 Weekly Technical Indicators: [See KMX weekly technical indicators chart]
Weekly Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic. During the last week, weekly Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal. 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 Lane's Stochastic help.
The weekly MACD line is above its signal line since December 15, 2023. This is an indication that the medium-term trend is up. 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 88.22 on March 28, 2024. KMX gained -21.36 points, or -31.95%, in 71 days. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 73.16 and resistance is at 89.90. 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 short-term trend.
 Daily Technical Indicators: [See KMX daily technical indicators chart]
Daily Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range. During the last week, daily Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal. Use the following link to access Williams' Percentage Range help.
During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.
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.
During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
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