CarMax (KMX) – Used Car Play – June 11th, 2020
The bullish DailyPlay for Thursday, June 11th is CarMax (KMX). KMX has rallied 21.4% in the last month and its 1M and 6M trend turned bullish on May 22nd as car sales jump above pre-COVID numbers.
- Stimulus and tax refunds drive car sales above pre-COVID levels
- 84% of revenue derived from used car sales, favorable in a post COVID environment
- Earnings June 19th (9 days)
- A pullback towards 20 D EMA in a strong trend provides good risk/reward for a long opportunity
- Strong relative strength score (8 out of 10)
- Both 1M and 6M trends are bullish