KMX Price Prediction Next Week
Analysis and Insights
Technical Analysis:
CarMax (KMX) is currently exhibiting bearish momentum, with the stock price showing a decline in recent sessions. The Relative Strength Index (RSI) for KMX is at 29.75, indicating oversold conditions, which may suggest a potential rebound. However, the Moving Average Convergence Divergence (MACD) is negative, signaling bearish momentum.
Fibonacci Levels:
The Fibonacci levels for KMX indicate a resistance level at $83.82 and a support level at $75.73. The stock is currently trading near the lower end of this range, suggesting potential volatility in the short term.
News Sentiment:
Recent news indicates that CarMax has shown resilience despite broader market challenges. The stock received an upgrade from Evercore ISI, which may indicate improving sentiment among analysts. However, the automotive sector has faced headwinds, including declining investor confidence following Carvana's earnings report.
Price Prediction:
Based on the technical indicators and current market conditions, KMX is expected to trade between $75 and $80 in the next trading week. The stock may experience a slight rebound due to oversold conditions but is likely to face resistance at higher levels.
Recommendation:
Given the current technical setup and market sentiment, it is recommended to sell KMX at the upper end of the predicted range ($78-$80) and consider buying at the lower end ($75-$76) if a rebound occurs. However, caution is advised due to the overall bearish trend.
KMX Similar Chart Price Prediction
The price of KMX is predicted to go up -24.23%, based on the high correlation periods with EWCZ. The similarity of these two price pattern on the periods is 96.39%.
KMX
EWCZ
Down: -24.23%Similarity: 96.39%
KMX Revenue Forecast
KMX EPS Forecast
KMX FAQs
What is KMX revenue forecast for next quarter？
What is KMX eps forecast for next quarter？
KMX VS S&P500
CarMax has increased revenue and profitability at a remarkable rate, and we think it is positioned to gain market share in any environment. Omnichannel helps this story, as it lets consumer have maximum flexibility in their experience.
We expect continued US market share and revenue growth long term.
No competitors have successfully duplicated CarMax's business model to the same degree, providing the company with a considerable head start on would-be imitators.
KMX Analyst's Forecast
Rajat Gupta
JP Morgan
Sell
2024-12-20
Price Target
$70 → $72
Downside
-14.56%
JPMorgan analyst Rajat Gupta raised the firm's price target on CarMax to $72 from $70 and keeps an Underweight rating on the shares post the fiscal Q3 report. The firm We come away from the results with no change to its view that the relative risk/reward on CarMax shares remains unattractive at current levels. However, the company's execution was better than expected in Q3, with CarMax participating in the broader industry recovery, coupled with tight control, the analyst tells investors in a research note.
Scot Ciccarelli
Truist Securities
Hold
2024-12-20
Price Target
$72 → $88
Upside
+4.43%
Steven Shemesh
RBC Capital
Buy
2024-12-20
Price Target
$99 → $103
Upside
+22.23%
