Not BullishWhen Carvana finishes this completely manipulated bullrun, it will be devastating. Typically extended 5th waves will correct at a minimum back down to wave 2 of said 5th wave. That means $50.
The stock was in an expanding formation which it broke out from and then failed back into. Very bearish. That is also the same type of pattern that Bitcoin displayed years ago before a major bear market. I think the top is in here, but we'll see.
To get that crash down to $50, something will have to come out in the news most likely about Carvana's stock manipulation and the ghost companies they are using to inflate cash flows. That is purely just a theory though. Perhaps they are squeaky clean and it's totally justified that their stock rose as much as it has, but...I'm not in that camp.
Not to mention all the upper management basically sell their stocks every week. Tens of millions of dollars are being siphoned out by the board and upper management almost every single week. The CEO by himself is cleaning house almost every other day lately. www.sec.gov
