In a welcome move, CarMax stock saw its Relative Strength Rating rise from 68 to 71 on Tuesday.
This unique rating identifies technical performance by using a 1 (worst) to 99 (best) score that identifies how a stock's price performance over the trailing 52 weeks stacks up against all the other stocks in our database.
Over 100 years of market history shows that the market's biggest winners typically have an RS Rating of above 80 as they begin their biggest price moves. See if CarMax stock can continue to rebound and hit that benchmark.
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Is CarMax Stock A Buy?
CarMax stock broke out earlier, but has fallen back below the prior 86.82 entry from a cup without handle. If a stock you're tracking clears a buy point then declines 7% or more below the original entry price, it's considered a failed base. It's best to wait for the stock to form a new consolidation and breakout. Also understand that the most recent consolidation is a later-stage base, which makes it riskier to establish a new position or add shares to an existing one.
Top and bottom line growth moved higher last quarter. Earnings were up 13%, compared to -16% in the prior report. Revenue increased from -7% to -1%. Keep an eye out for the company's next round of numbers on or around Dec. 19.
CarMax stock earns the No. 13 rank among its peers in the Retail/Wholesale-Auto Parts industry group. ACV Auctions, Group 1 Automotive and Lithia Motors are among the top 5 highly rated stocks within the group.
