Bearish DailyPlay for Monday April 17th, 2017 – Carmax (KMX)

The bearish DailyPlay we chose for Monday April 17th is Carmax (KMX). KMX is part of the Consumer Discretionary Sector (XLY). Over the last month, XLY has experienced a 0.81% move lower and its 1m and 6m trend has turned bearish on Thursday while breaking below its $87 support level.

Carmax’s 1m and 6m trends turned bearish on 4/3 while breaking below its $58 support level on high volume which now becomes resistance. With a technical score of 4 (out of 10), KMX is a bearish stock that looks to continue lower.

View this Trade Idea on KMX

As a stop loss, if KMX was to trade above $58 for multiple days, this would invalidate our analysis and suggest getting out of the trade.

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