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Carmax

CarMax Hits Speed Bump: Shares Drop 13% Amid Delayed TargetsCarMax ( NYSE:KMX ), the pre-owned vehicle giant, faces a bumpy road ahead as it misses analyst expectations for its fourth-quarter results and pushes back its long-term financial targets. The company's shares took a nosedive, plunging as much as 13% in premarket trading. Blaming ongoing vehicle affordability challenges and inflationary pressures, CarMax ( NYSE:KMX ) now expects to reach its target of selling over 2 million combined retail and wholesale units annually between 2026 and 2030, a delay from its previous goal of achieving this milestone by 2026. The ripple effect of CarMax's disappointing performance extended to other auto retailers like Carvana and AutoNation, which also saw declines in premarket trading. Analysts express concern over the company's future prospects, with Truist Securities' Scot Ciccarelli cautioning that the recovery may not be as robust as anticipated. CFRA Research's Garrett Nelson highlights the impact of "higher-for-longer" interest rates on car sales volumes, exacerbated by inventory overhang on pricing. The pandemic-induced surge in vehicle inventories has led to fierce competition among pre-owned retailers, driving down prices and squeezing profit margins. CarMax ( NYSE:KMX ), like its counterparts, now faces the challenge of balancing inventory levels and navigating the turbulent waters of inflation. With CarMax ( NYSE:KMX ) warning of further profit-sharing revenue hits due to inflationary pressures, investors brace for continued turbulence in the used-car market. As the industry grapples with evolving dynamics, CarMax's ability to steer through these challenges will be closely watched by investors and industry observers alike." Technical Outlook CarMax ( NYSE:KMX ) stock is trading within the overbought region with a Relative Strength Index (RSI) of 27.23. The stock is trading below the respective Moving Averages further validating to the Bearish thesis.
NYSE:KMXShort
by DEXWireNews
Possible Swing Idea On Carmax or #KMX.I spotted a potential Swing Idea on KMX. I'm eyeing 140-145 calls. I haven't determined an expiration date yet, but I'm aiming for next month, maybe even Dec. depending on the contract prices. I also have a 1hr markup which is showing me a possible bounce coming off the 200MA. WIll this happen anytime soon, that I don't know. However, I'm liking the pullback to support on the Daily, with the 1hr chart confirming that area of Support as well. Still, I'll be patient and wait for a clean entry above 138.55, which will be the confirmation bar on the Daily Chart and will trigger my entry for the 140-145 calls for a Swing Play. On management, I plan on watching for price reaction at 140(psychological level). If price continues that sequential move back up, just as price sold off in a sequential manner, I will hold for the completion of sed move back to 143-145. If price stalls at 140, I may look to reposition and wait for a break over 140 for the next possible leg up. Granted this is all theory, but a TRADING PLAN as well. My thought process in looking for plays is: Look for reasons not to take a trade..If there isn't one, get prepped!" If this play dies & never alerts my entry, then I keep it moving. No harm no foul. The beauty of Swing Trading, if you can read the chart, you can sometimes see the move coming a mile away, you just NEVER jump the gun. Entry- IDENTIFIED Stop Loss- IDENTIFIED EXIT(s)- IDENTIFIED Risk Management/Risk To Reward Ratio- IDENTIFIED There goes FOMO, GREED & FEAR & here comes the thought process of a calm & confident Trader. Win, Lose or Breakeven..I Identified my play & built a plan around it. All that's left to do now, is manage the trade when it becomes time to manage the trade, & not profit watch!
NYSE:KMXLong
by DayTraderEarl
How CarMax could reach it's estimated 6.5% move into earningsAccording to the option market, KMX is looking to make a 6.5% move based off of $133. This meaning 6.5% to the upside or downside is expected. Due to the current set-up, in my opinion CarMax could reach that 6.5% before earnings rolls out on Thursday. Demand above $134 could trace a realistic move to test $138-$139 by earnings, and has room to even create a healthy shot above $140 before a pullback. $132 downside confirmation is set for current stop loss (current lower-side demand)
NYSE:KMXLong
by rickhubbard10
CARMAX ($KMX) 🏎️ | Save Your Marriage Using Only Carmax🚗 CarMax (KMX) slayed it last earnings season. While projections are grim this quarter due to the COVID slowdown, the longterm bull trend of CarMax and its general performance as a company ultimately has us looking for more upside. Not only does CarMax have a strong presence in the in-person used car economy, but it also has a strong presence in online car sales (which one would think helped it sustain COVID better than others; we'll know when the numbers come out). Another bullish thing CarMax has going for it is that some smaller used car dealers are having issues getting credit for customers, while bigger players like CarMax don't have this issue. Given all that we are betting on bullish continuation after finding support, although there is a path for the bears here if this CarMax run turns out to be lemon. Hit that 👍 button to show support for the content we produce every day and to help us grow 🐣 Support: Our first notable support for KMX is the S1 bullish S/R flip, orderblock, and gap-fill cluster. There is a lot going on here, and all that confluence makes it a logical spot for the bulls to find support. If the bulls can't hold S1, they will have to be cautious as the bears will have a path to victory in front of them. Both bulls and bears will be looking at the S2 cluster for direction. Does a test of S2 give us a dead cat up to previous support as resistance? Or, can the bulls take the S2 momentum and run with it? We won't know unless we get there, but the bulls should be hoping we never have to find out. Resistance: The first resistance for the bulls is the R1 orderblock and gap fill at the prior swing high. The logic here is simple, we are likely to find resistance at the previous top. Speaking of previous tops, the R2 orderblock cluster at the All-Time High (ATH) is bound to see a reaction if and when we test it. Of course, testing this level is something the bulls are hoping for, and there isn't much for the bears to do if we do. Summary: CarMax has been bullish for about a decade, we aren't rushing to bet against this one, to say the least. Still, a bit more correction before the bulls continue their stampede isn't out of the question. Does S1 hold? Bulls better hope so, because things get a lot less bullish below S1. Resources: www.earningswhispers.com + www.caranddriver.com
NYSE:KMX
by AlphaBotSystem