CarMax Inc. (KMX) met our $77.00 per share upside target this morning, first mentioned in our August 30th Asbury Alert entitled Carmax Inc. (KMX) Resuming Its Late 2016 Advance (access requires subscription), to capture a $11.90 per share, 18.3% advance in just over one month.

XLI outperformed the S&P 500 (SPX) by 12.8% during the same period.

Note that price targets being met do not necessarily mean that the directional move is over — only that our initial expectations have been met.

Here is the chart that appeared in our August 30th report.

KMX: October 2016 to August 30th

Here is the updated version of that chart through this morning.

KMX: October 2016 to October 3rd

 

We publish these notifications for 3 reasons:

  1. to let Asbury Research subscribers know when to consider taking profits on existing positions,
  2. to let non-subscribers track what we are doing in the market, in real time, and
  3. to make everyone aware of a potential upcoming price reversal as price advances often end as upside targets are met and more savvy investors take profits.

 

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