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Watch for Continued Gains in Shares of Carmax (KMX)

Published on Tue, 09/10/2013 - 14:39
By Mallory Stone

Carmax (NYSE:KMX) traded today at a new 52-week high of $52.09. This new high was reached on approximately average trading volume as 856,000 shares traded hands, while the average 30-day volume is approximately 827,000 shares.

CarMax, Inc. sells at retail new and used cars and light trucks. The Company purchases, reconditions, and sells new and used vehicles in its superstores and franchises throughout the United States.

Carmax share prices have moved between a 52-week high of $52.09 and a 52-week low of $28.04 and are now trading 85% above that low price at $51.95 per share. The 200-day and 50-day moving averages have moved 0.59% higher and 0.65% higher over the past week, respectively.

Carmax (NYSE:KMX) defies analysts with a current price ($51.95) 2.0% above its average consensus price target of $50.91. The stock should find initial support at its 50-day moving average (MA) of $48.33 and further support at its 200-day MA of $43.07.

By Mallory Stone
mstone@fnno.com