Target 130Looks like it wants to go there and that would be my short target. This is valid as long as it holds the price above that bottom trend line. Closing above that line monthly is critical.
If it closes monthly(on May 29) below that bottom trend line then you can expect lower prices.
Stop loss 92.
CVNA trade ideas
$CVNA can rise in the next daysContextual immersion trading strategy idea.
Carvana Co. operates an e-commerce platform for buying and selling used cars in the United States.
The demand for shares of the company looks higher than the supply.
This and other conditions can cause a rise in the share price in the next days.
So I opened a long position from $74,60;
stop-loss — $71,00.
Information about take-profits will be later.
Do not view this idea as a recommendation for trading or investing. It is published only to introduce my own vision.
Always do your own analysis before making deals. When you use any materials, do not rely on blind trust.
You should remember that isolated deals do not give systematic profit, so trade/invest using a developed strategy.
If you like my content, you can subscribe to the news and receive my fresh ideas.
Thanks for being with me!
Optimistic view on CVNA Hi, I've taken my time to look into this graph, I see a quite clear willingness to bounce off of 200 MA daily, and could be a stop loss for an entrance with a less tight stop than the ones plotted on the graph.
I see the stock as being on a 3rd wave of its bigger 3rd wave, which should be great, hence my optimism.
I also believe it might go quickly from this spot in the coming days, as it has shown support on the 50 MA daily, which earlier has been the starting point for moving higher quickly.
I don't own this stock, always do your own DD.
Happy trading.
$CVNA Rising Triangle PatternOpened a position in this today when it broke the triangle. It did pull back in, I may have jumped the gun as this could be a false break-out. It is a nice pattern and did get an upgrade today with a $120 price target. I'm in at $96.02 still in the money. My stop is $90 and first target is a measured move to $112 then hopefully to $120 upgraded target. Ideas, not trading / investing advice.
CVNA Retest/RemountCVNA retested its $85 support level and remounted to continue further upside. It has also been creating higher highs and higher lows forming an Elliot wave pattern. This looks like its on its last leg of the Elliot wave after completing its correction. Looking for it to at least test its highs at the $96 level as an initial target. With a finishing target of $100-103 level where the last leg of the wave pattern will potentially complete.
Carvana Co set to drive higher. Chart is bullish but trade with caution does show some weakness.
arvana Co. is a holding company and an eCommerce platform, which engages in the buying of used cars and provision of different and convenient car buying experience. It operates through the following segments: Vehicle Sales; Wholesale Vehicle Sales; and Other Sales and Revenue. The Vehicle Sales segment consists of used vehicle to customers through website. The Wholesale Vehicle Sales segment comprises of the proceeds from vehicles sold to wholesalers. The Other Sales and Revenue segment composes of sales of automotive finance receivable originate and sell to third parties. The company was founded by Ernie Garcia, III, Benjamin Huston and Ryan Keeton on November 29, 2016 and is headquartered in Phoenix, AZ.