BotTrigger

$KMX getting ready to rally higher. Higher-Lows & Higher-Highs

NYSE:KMX   CarMax Inc
4
$KMX BotTrigger Trade Update: $KMX saw follow thru today on yet another strong bull bar closing well above yesterdays close. More importantly was that KMX closed above the bullish engulfing bar that it sported back on April 6. That April 6 bar was long with a low of $54.29, high of $58.20, & close of $58 that April 6 day. Since then, over the following 7 days KMX preceded to retrace the move to a retest of the lows in what was a very orderly pullback. This is different than a steep plunge pullback. Just better in terms of the quality of the pullback. KMX bounced of those lows and has now eclipsed the high of April 6's bull bar. This is all very bullish action. In the analysis of "pattern-cultivation" this is the kind of action that tends to ignite a counter trend rally where a whole new wave of interest/buyers comes into the stock. The next important level for KMX to trade above is the $60 area. Consider a close above this level to follow a much stronger rally then you've seen so far. Take notice of what happens when KMX (many stocks in general) start trading above the 21 day exponential moving average. KMX is now above this as well here as we can see on the chart.

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