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Archive
- 4/19/2024 -
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Carmax Inc (KMX) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was the negative week for the Carmax Inc (KMX). During the week, the KMX dropped -3.07 points, or -4.30%, and closed at 68.34 on Friday, April 19, 2024. Weekly volume was 41% 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 (63.85) 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 63.90 and resistance is at 98.47. 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 technical indicators are neutral.
The weekly MACD line is above its signal line since December 15, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. 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 uptrend support line (74.31) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. KMX may retest the broken support line. It is considered to be a resistance 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 support in a short-term trend.
 Daily Technical Indicators: [See KMX daily technical indicators chart]
Daily Relative Strength Index is oversold while Williams' Percentage Range and Lane's Stochastic are 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 and Lane's Stochastic. 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 links to access Lane's Stochastic, Relative Strength Index and Williams' Percentage Range help.
The daily MACD line is below its signal line since April 1, 2024. The distance between MACD and the signal line is relatively high and getting bigger.
The distance between the Bollinger Bands (41.97%) is close to one year high (36.91%). It is 185.33% higher then one year average. It indicates the period of high volatility of the stock price, and it is considered a sell signal for the option traders. 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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