CARMAX INC NYSE:​KMX

I'm a little late on publishing this idea, but I'm not late on holding on here. Carmax is currently getting two monthly payments from our household, so I know this company is generating a cashflow, and so does everybody else after their solid 11% earnings surprise about two weeks ago. I've been holding and watching and waiting to publish before seeing a trend...

KMX beat on earnings, but did it deserve to jump so high? They've returned to growth, ie stopped sucking. But was that worth such a huge and quick gap between 50/200dma. I'm hoping that it's going to deflate a bit in the very near term... at least drop to it's 200dma for a moment... Long put at 60 for May. It's only .15 to buy and underlying would only have to...

KMX is approaching our first resistance (horizontal overlap resistance, 61.8% fibonacci extension, 61.8% fiboancci retracement) where we might see a drop in price to our first support (Horizontal pullback support, 61.8% fibonacci retracement). Stochastic is approaching resistance as well.

KMX reversed from its resistance where it could potentially fall further to its support.

KMX is approaching its resistance where a reversal could occur.

lots of weak auto related names right now $CARS $CARZ

KMX reversed from its resistance where we expect to see a further drop to its support.

KMX is approaching our first support at 58.15 where we might see a corresponding bounce in price to our first resistance. Stochastic is approaching support as well.

KMX bounced off its support where it could potentially rise to its resistance

KMX is approaching support where a potential bounce to its resistance could occur.

KMX is approaching our first support at 54.37 (horizontal swing low support, 100% fibonacci extension, 61.8% fibonacci retracement) where a strong bounce might occur to our first resistance at 67.25 (horizontal overlap resistance, 50% fibonacci retracement). Stochastic (89,5,3) is also approaching resistance where we might see a corresponding bounce in price.

KMX is approaching resistance where we expect to see a reversal to its support. Stochastic is also approaching resistance where a corresponding reversal is expected.

-

KMX is approaching its support at 59.53 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing low support) where it could potentially bounce to its resistance at 67.10 (61.8% Fibonacci retracement, horizontal overlap resistance). Stochastic (55, 5, 3) is approaching its support at 3.4% where a corresponding bounce could occur.

KMX getting to the bottom of a measured move. Will watch this for a short term bounce. Could see a 382 rebound if it catches support. Probably continue lower after that.

If you like taking candy from a baby - this one's for you. $CRMT earnings this week could put a dent in a new 52 week low - we'll see how the rest of auto-dealerships hold up though. Could get interesting

.

Closed with high sell volume, long wick on the top but price only grew half way back.