I'm going to go out on a limb today (15-Feb) and say that KMX is encountering resistance at $40.10. Can someone who understands the markets look at today's chart and explain to me what is happening? Is there some massive sell order triggering in pieces at this price?
For me, an amateur, too dangerous to short. I suspect there are easier shorting targets out there. The whole market feels very high. If you short KMX and it breaks out, getting filled might be hard above 40.22.
I'd agree. Noticeable resistance at 40.10.
Probably an algorithm working a large sell order by TWAP (Time Waited Average Price), but could be an institutional trader doing the same. If it can break 40.22 today, Monday or Tuesday volume should increase dramatically. Then we'd have a breakout to about 42 in the near term.