On Friday, before market, CarMax (KMX) is anticipated to release first quarter EPS of $0.04 compared to $1.59 a year ago on revenue of approximately $2.7B vs. $5.4B last year. The company operates a car and light truck retail chain, and its current analyst consensus rating is 14 buys, 2 holds and 1 sell, according to Bloomberg.
From a chartist's point of view, on a daily chart, CarMax's stock price has been rising inside of an ascending wedge pattern that began to form in mid-March. Price has been holding against the upper trend line for the last three trading days making higher lows, a bullish signal. The RSI has been rising since late-March and is currently holding above 60 after a slight pull back from overbought territory last week. Price is anticipated to continue advancing towards the record high at $103.00 and the uptrend to continue. If price breaks below the lower trend line then price will likely make its way back down to the $86.00 level on the 200-day moving average. If price cannot find support at the $86.00 level then we could see the beginning of a bearish market structure forming, which could send price back down to $78.00.
Source: GAIN Capital, TradingView
Disclaimer: The information on this web site is not targeted at the general public of any particular country. It is not intended for distribution to residents in any country where such distribution or use would contravene any local law or regulatory requirement. The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency or CFD contract. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. Any references to historical price movements or levels is informational based on our analysis and we do not represent or warranty that any such movements or levels are likely to reoccur in the future. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions.
Futures, Options on Futures, Foreign Exchange and other leveraged products involves significant risk of loss and is not suitable for all investors. Losses can exceed your deposits. Increasing leverage increases risk. Spot Gold and Silver contracts are not subject to regulation under the U.S. Commodity Exchange Act. Contracts for Difference (CFDs) are not available for US residents. Before deciding to trade forex and commodity futures, you should carefully consider your financial objectives, level of experience and risk appetite. Any opinions, news, research, analyses, prices or other information contained herein is intended as general information about the subject matter covered and is provided with the understanding that we do not provide any investment, legal, or tax advice. You should consult with appropriate counsel or other advisors on all investment, legal, or tax matters. References to Forex.com or GAIN Capital refer to GAIN Capital Holdings Inc. and its subsidiaries. Please read Characteristics and Risks of Standardized Options.