How CarMax could reach it's estimated 6.5% move into earnings
According to the option market, KMX is looking to make a 6.5% move based off of $133. This meaning 6.5% to the upside or downside is expected.
Due to the current set-up, in my opinion CarMax could reach that 6.5% before earnings rolls out on Thursday.
Demand above $134 could trace a realistic move to test $138-$139 by earnings, and has room to even create a healthy shot above $140 before a pullback.
$132 downside confirmation is set for current stop loss (current lower-side demand)
Due to the current set-up, in my opinion CarMax could reach that 6.5% before earnings rolls out on Thursday.
Demand above $134 could trace a realistic move to test $138-$139 by earnings, and has room to even create a healthy shot above $140 before a pullback.
$132 downside confirmation is set for current stop loss (current lower-side demand)
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