Carmax Inc. - (KMX) - January 20, 2021 

A 9.3% gain propelled the shares of used car retailer Carmax (KMX) to a one-day jump of 120 spots in the SIA S&P 500 Index to 90th place, returning it to the Green Favored Zone for the first time since October. Carmax (KMX) shares spent the last several months of 2020 stuck in neutral, consolidating gains in an $85.00 to $110.00 range after peaking in August. Since the start of this year, the shares have come under renewed accumulation, snapping a downtrend line and regaining the $100.00 level.

Yesterday, the shares staged a major breakout, blasting through the $110.00 top of the channel to a new all-time high on increased volume, signaling the start of a new uptrend.

Measured moves suggest next potential resistance may appear near the $125.00 round number, then the $130.00 to $135.00 range based on measured moves. Initial support appears near the $110.00, $107.50 and $100.00 all based on retests of recent breakout points.

Carmax (KMX) shares have come under increased accumulation since the start of this year, rallying up off of a higher low, completing bullish Double Top and Spread Double Top breakouts, achieving new highs and continuing to climb.

Next potential upside resistance appears in the $130.65 to $133.25 area, and then $138.64 based on the convergence of multiple vertical and horizontal counts. Initial support appears near $107.15 based on a 3-box reversal and a retest of a recent breakout point.

With a bullish SMAX score of 8, KMX is exhibiting near-term strength against the asset classes.

Disclaimer: SIACharts Inc. specifically represents that it does not give investment advice or advocate the purchase or sale of any security or investment whatsoever. This information has been prepared without regard to any particular investors investment objectives, financial situation, and needs. None of the information contained in this document constitutes an offer to sell or the solicitation of an offer to buy any security or other investment or an offer to provide investment services of any kind. As such, advisors and their clients should not act on any recommendation (express or implied) or information in this report without obtaining specific advice in relation to their accounts and should not rely on information herein as the primary basis for their investment decisions. Information contained herein is based on data obtained from recognized statistical services, issuer reports or communications, or other sources, believed to be reliable. SIACharts Inc. nor its third party content providers make any representations or warranties or take any responsibility as to the accuracy or completeness of any recommendation or information contained herein and shall not be liable for any errors, inaccuracies or delays in content, or for any actions taken in reliance thereon. Any statements nonfactual in nature constitute only current opinions, which are subject to change without notice.

Keep up to date on the latest financial market news.

Receive a daily newsletter with stock highlights, ETF rankings, weekly market focus and others.