Carmax stock price the CarMax stock price is consolidating

The CarMax stock price is consolidating around $75.00, with technical charts forming a symmetrical triangle pattern. This setup often precedes sharp direction moves, making it a focal point for active traders this week. While many signals suggest the pre-owned car market is strong, CarMax’s recent earnings call suggests something is amiss. A significant quarterly earnings miss for Q2 sent stock prices plummeting 25 percent to $0.64 per share. Heading into Q4, there are now significant questions about what will happen with the used car market. CarMax shares ended Thursday at $45.60 — the stock's lowest close since March 2020, when the coronavirus pandemic closed down U.S. auto production and many retailers. The stock is down about 44% so far this year, with the company's market cap at $6.84 billion. CarMax stock price moved slightly higher today to $75.10, supported by better-than-expected wholesale unit sales data. Institutional buyers are cautiously increasing positions, citing historical resilience in vehicle turnover even during economic cooling cycles. Technical traders note bullish short-term indicators, with resistance near the $77 level.