Use This Exponential Moving Average In Your Trading
Carmax Inc (KMX)
tested its support level successfully and began to move up shortly
after the open as you can see on the 5-minute chart below.
10:47:02 (from TradersWire)
|
Action |
Symbol |
Order Type |
Setup |
Stop |
 Target |
Current Price |
Posted By |
|
Buy |
KMX | buy stop at 27.81 | slim jim | 27.66 | 28 | 27.79 |
TK |
The stock easily broke above the
20-period EMA, but the 240-period EMA was not so easy to overcome. In fact KMX
started to form a Slim JIm ( a tight trading range), and this was a potential
breakout situation. I placed a buy stop at 27.81.
11:01:13 (from TradersWire)
Follow up on KMX (Pt 2)
We are selling half to take a 12-cent gain.
Notice after we took a partial profit, the 240-period EMA became a nice support
level.
If you have questions, feel free to
mail them to me.