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SmarTrend Watching for Potential Pullback in Shares of Carmax Inc After 2.06% Gain

Comtex SmarTrend(R) - Tue Aug 4, 12:37PM CDT

Carmax Inc (NYSE:KMX) traded in a range yesterday that spanned from a low of $97.26 to a high of $100.70. Yesterday, the shares gained 2.1%, which took the trading range above the 3-day high of $98.69 on volume of 603,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend is monitoring the recent change of momentum in Carmax Inc. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Carmax Inc in search of a potential trend change.

In the past 52 weeks, Carmax Inc share prices have been bracketed by a low of $37.59 and a high of $103.18 and are now at $100.47, 167% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.2% while the 200-day MA has remained constant.

Write to SmarTrend at cs@mysmartrend.com

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