Trading Carmax $KMX With Integrated Risk Controls

April 11, 2023, 08:16 am ET, BY Thomas H. Kee Jr- Editor, Stock Traders Daily| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Price matters most to #makingmoney in the #stockmarket. Celebrating 20 years, Stock Traders Daily provides the tools that help you develop investment strategies, and this is a good example. When we couple this with our market based analysis, the probabilities of going with the flow increases, and that is material over time. The Carmax (NYSE: KMX) report below can help you, but we have more details too. The trading plans for KMX, and the other 1000+ stocks we follow, are updated in real time for subscribers, but this report is static. If you want an update, or a different report, please get one here Unlimited Real Time Reports.

Longer Term Trading Plans for KMX

• Buy KMX slightly over 62.85 target 74.18 stop loss @ 62.67 Details

The technical summary data tells us to buy KMX near 62.85 with an upside target of 74.18. This data also tells us to set a stop loss @ 62.67 to protect against excessive loss in case the stock begins to move against the trade. 62.85 is the first level of support below 70.5 , and by rule, any test of support is a buy signal. In this case, support 62.85 is being tested, a buy signal would exist.

• Short KMX slightly under 74.18, target 62.85, stop loss @ 74.39 Details

The technical summary data is suggesting a short of KMX as it gets near 74.18 with a downside target of 62.85. We should have a stop loss in place at 74.39though. 74.18 is the first level of resistance above 70.5, and by rule, any test of resistance is a short signal. In this case, if resistance 74.18 is being tested, a short signal would exist.

Swing Trading Plans for KMX

• Buy KMX slightly over 74.18, target n/a, Stop Loss @ 73.97 Details

If 74.18 begins to break higher, the technical summary data tells us to buy KMX just slightly over 74.18, with an upside target of n/a. The data also tells us to set a stop loss @ 73.97 in case the stock turns against the trade. 74.18 is the first level of resistance above 70.5, and by rule, any break above resistance is a buy signal. In this case, 74.18, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short KMX slightly near 74.18, target 67.00, Stop Loss @ 74.39. Details

The technical summary data is suggesting a short of KMX if it tests 74.18 with a downside target of 67.00. We should have a stop loss in place at 74.39 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 74.18, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for KMX

• Buy KMX slightly over 74.18, target n/a, Stop Loss @ 74.01 Details

If 74.18 begins to break higher, the technical summary data tells us to buy KMX just slightly over 74.18, with an upside target of n/a. The data also tells us to set a stop loss @ 74.01 in case the stock turns against the trade. 74.18 is the first level of resistance above 70.5, and by rule, any break above resistance is a buy signal. In this case, 74.18, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short KMX slightly near 74.18, target 67.00, Stop Loss @ 74.35. Details

The technical summary data is suggesting a short of KMX if it tests 74.18 with a downside target of 67.00. We should have a stop loss in place at 74.35 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 74.18, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

KMX Ratings for April 11:

Term →	Near	Mid	Long
Rating	Weak	Strong	Weak
P1	0	0	51.44
P2	62.97	63.93	62.85
P3	65.54	67.00	74.18

Support and Resistance Plot Chart for KMX

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