0HTQ trade ideas
$KMX Box Setup2 months box setup after breaking into all time highs. Carmax held up very well against market weakness possibly ready to start its next leg up and ultimately breaking this consolidation into new uncharted territories.
Carmax Inc (KMX)- OPERATES 216 USED CAR SUPERSTORES IN 106 U.S. MARKETS WITH PLANS TO OPEN 13 STORES IN 2019-20.
My accidental KMX short...that I will keep for now.I was looking for overvalued companies a couple of days ago. KMX became a candidate due to its high debt and high multiples.
So, I staged an order, thinking I will review it one more time in the morning. But I forgot all about it and it got executed.
So, I am short KMX now. Looking at the chart looks like next week will tell if it was a lucky accident or not so much.
If it closes under the potential H&S, I am keeping the short. Be warned, I tend to see H&S everywhere and I know that =)
$KMX with a neutral outlook after earnings releaseThe PEAD projected a neutral outlook for $KMX after a negative under reaction following its earning release placing the stock in Drift D
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KMX: About to drive into top gearThis is min away from reporting. Fully expect this to pop and run for days.
Hope you know this.
KMX: Potential Head and Shoulders - Sell Potential Head and Shoulders
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Basing for gap fill aboveNice recovery after a nasty plunge, could be putting in the base to form a right shoulder and fill the gap above.
Oversold with gap aboveThis may bounce around in the 90's before breaking 100 to fill the gap, keep on watch.
KMX Falling WedgeHas a falling wedge and looks like it is trying to breakout today. This morning it has already broken above 20-day moving average. Volume has been building over last couple weeks. Looking for close above that 20-day moving average that is currently around $95.15.
KMXI WOULD GO SHORT UNDER 92. LEVELS BELOW ARE 89, 85
GO LONG OVER 100
TRADE IDEA: 90P 10/2. BID/ASK: .65/.85
Short to 92$Kmx failed to break out of it's consolidation and seems to be returning to 92$. Looks like a quick 4 point move if you can catch it.
CARMAX INC ChartHey investors, CARMAX INC is in a bullish push, a large number of paid buy volume and a sign of a continuation of bullishness due to the failed buyer's attempt. So there is a possibility of a rising recovery if the buyers respond present, for breakout the equilibrium zone can be confirmed by counting the bullish gap.
It is heading down the next high, in the decision area the price may have risen to fall back on top of it.
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CARMAX ($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.
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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
Bearish looking Upward wedgeIf you look at the 1M and 1W, you will see solid resistance and at the 1W you can see kind of like an upward wedge and a red inverted hammer wick. Zoom in a little to 1D and we will see kind of like an upward wedge formation going on, and that it is currently retracing from resistance, but some consolidation here could happen. From here on we will need to wait a few days, perhaps until next week or so to see what will happen next because nothing is guaranteed.
I am looking for a nice short entry at the 1H...
KMX retested bearish trendline, failed with bearish engulfingKMX retested on friday the multi month bearish trendline and failed again to make a new high. It failed with a bearish engulfing with a very nice profit potential at the last significant swing low.
Only downside is the open window right below the bearish engulfing pattern, but if this can get closed, the last swing low is highly probablistic.
Put in a tight stop and lets see what the market does. :)
KMX - DAILY CHART Hi, today we are going to talk about CarMax and its current landscape.
CarMax is poised to receive increasing attention from the market as relevant events are taking place. The company reports its earnings on Friday before the opening bell.
With a good year, this report could be an event that will boost its positive momentum. The auto retail company has been the sector spearhead. With solid fundamentals, the company can continue to be benefited from the changes that e-commerce has inflicted on the automotive retail industry, which has been responsible for a small percentage of the sales, holding them a huge potential of growth.
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