Tech Tracker | Used Car Stock CarMax Shows 8.4% Potential Upside Amid Breakout-pullback-continuation; Celanese Shows Flag-formation Breakout Pattern
Our in-house experts provide daily technical analysis to assist investors in making informed trading decisions and enhancing their trading strategy.
Here’s a summary of the technical analysis for September 15:
1. Stock Name: CarMax Inc (KMX, $CarMax, Inc. KMX$ )
CarMax, Inc. retails automobiles. The Company offers used cars, vans, electric vehicles, and light trucks, as well as provides rental, maintenance, post-warranty repairs, mechanical and painting work, diagnosis insurance, valuation, and security services. CarMax serves customers in the United States.
Entry: Buy above $83.50
Target: $87.30 (4.6%), $90.50 (8.4%)
Stop: $80.50 (-3.6%)
Shariah: No
Technical: Breakout-pullback-continuation
2. Stock Name: Celanese Corp (CE, $Celanese Corporation Class A CE$ )
Celanese Corporation operates as a global integrated producer of chemicals and advanced materials. The Company offers products such as acetyl, acetate, vinyl emulsion, and engineered polymers. Celanese operations serves customers worldwide.
Entry: Buy above $128.00
Target: $132.00 (3.1%), $135.00 (5.5%)
Stop: $125.00 (-2.3%)
Shariah: Yes
Technical: Flag-formation breakout
Source: Bloomberg, M+ Global (Malacca Securities)
More about Loui:
Loui Low leads a team of analysts to perform equity and economic research and to provide investment advisory services to the organization's sales team, fund manager and retail fraternity. He has more than 10 years of experience in the stockbroking industry.
He graduated with a Bachelor of Science in Statistics from University of Malaya. He also holds an STA Diploma and is a member of the Society of Technical Analysts (MSTA) United Kingdom.
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