NEW BULLISH Plays
CarMax - KMX - close: 30.33 change: +0.65
Stop Loss: 29.30
Current Gain/Loss: unopened
Entry on August xx at $ xx.xx
Listed on August 29, 2011
Time Frame: 6 to 8 weeks
Average Daily Volume = 1.2 million
New Positions: Yes, see below
Why We Like It:
KMX is a used car dealership. Shares have seen a significant rebound off their June lows. The last several days have seen KMX consolidate sideways under resistance near $30.00 and its 200-dma. Today's breakout past these levels looks pretty bullish.
I am suggesting we jump on this breakout and launch positions at the open tomorrow. We'll use a stop loss at $29.30. Our target is $33.00.
Suggested Position: buy KMX stock @ (the open)
- (or for more adventurous traders, try this option) -
buy the Sep $30 call (KMX1222i30) current ask $1.30