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Advanced TA SearchArchive
- 4/26/2024 -
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Carmax Inc (KMX) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a first positive week after 3 consecutive negative weeks for the Carmax Inc (KMX). During the week, the KMX gained 1.25 points, or 1.83%, and closed at 69.59 on Friday, April 26, 2024. Weekly volume was 25% 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 (64.03) 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 64.06 and resistance is at 98.76. 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 Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold 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.
During the last week, weekly MACD line has moved below its signal line. Such crossover is considered a bearish signal. Use the following link to access a MACD help.
 Short-term trend: [See KMX short-term trend chart]
A short-term downtrend had started on March 28, 2024 at 88.22 and reached 67.31 on April 22, 2024. KMX lost 20.91 points, or 23.70%, in 25 days. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 62.68 and resistance is at 76.22. Use the following link to access a Broadening Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a short-term trend.
 Daily Technical Indicators: [See KMX daily technical indicators chart]
Daily Relative Strength Index is oversold while Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold daily Relative Strength Index or strongly oversold daily Williams' Percentage Range. During the last week, daily Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish signal. Use the following links to access Lane's Stochastic and Relative Strength Index help.
The daily MACD line is below its signal line since April 1, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak.
The distance between the Bollinger Bands is 153.03% higher then one year average. It indicates the period of high volatility of the stock price. 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.
During the last week, the 20 Day Moving Average has crossed below the 50 Day Moving Average. Such crossover is considered a bearish 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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