CVNA - SHORT UPDATEHAD THE WEDGE DRAWN WRONG. TOP OF TREND LINE WILL BE AROUND 91.00 AREA FOR BEST POSSIBLE ENTRY FOR LOW RISK SHORT.
CVNA trade ideas
Nice Round Bottom Cup-N-HandleWatch this closely, it's a perfect pattern. The round bottoms are the best because they are less volatile, and last longer than V bottoms, shaking out weak hands. Keep an eye on the cup line and volume for a breakout.
CVNA Measuring GapPossible Measuring Gap, with second leg down to target area
The earlier two-side trading might act like a value area to pull second leg lower
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.
CVNACVNA, bullish long term. Needs lots of room to wiggle. Needs to tighten up a bit. Still only holding starter position from a few months ago.
CVNA BreakoutCVNA in the past two trading days has formed harmani doji reversal pattern paired with an ascending triangle as it leads up into resistance at the $68. It has tested this level 3 times already, giving it more momentum to breakout in the coming days.
CVNA Short Credit SpreadPutting on a Bear Call Spread.
$1.44 Profit/ Loss $3.66
Max loss is $144. Profit target is $72
It looks like a false breakout and moving sideways.
Market is going to get interesting as G20 meeting next week.
I'm betting it'll be a letdown.
CVNA Bear Put SpreadCVNA is still a bearish position for me I plan to put in a 70/75 Bear Put Spread as it seems to be continuing sideways I felt my 60/65 spread was too close and I took a loss on it. In the end it may still have been a fine position I could have over reacted out of fear.
I plan to put on this trade $70 profit max loss is $430 I will buy 2 spreads
$140 max and $860 max risk
Profit target is $70 and max loss is $140
Target exit will be end of June.
CVNA high growth runner Wedge from last year broke bullish, now looks to be forming cup and handle. Very shallow consolidation during last months pull back, bullish divergence. Up 5% today, looks like it wants to push higher.
CVNA Bear Call SpreadContinuation I took a $132 USD profit on my last spread I'm rolling the spread to 60/65 with 135 credit. $80 profit target $160 max loss.
CVNA Parabolic Arc Retracement PatternCVNA is slowly losing momentum. Recently released a debt issuance and it dropped its after hours trading lower to around $64.
CVNA could lose steam and change direction like it has in the past. I write a call at $45 and buy a call at $70 expiry is August 16th.
45/70 Credit Spread EXP AUG 16. $1570/930 Risk (May change after I put on trade)
Target exit is July at around $800-900 profit.
CVNA Bear call spreadAdding a small Bear call spread on cvna, RSI bearish divergence major market volatility is increasing with tariffs and it's Double top.
70/75 exp June 21
Journal entry and not trading advice
$CVNA 80% GAIN IN 3 MONTHS, DON'T BE GREEDY.As earnings approach the options market has been very active in CARVANA. Noteworthy activity has been on the put side with unusual activity for the $35 and $45 strike puts. We do not hold the name but in the current market it would be wise to bank profits when the stock has the possibility if a double top forming. Give the fact that the price is well above the average Analysts estimate of $62 there is also the possibility of negative re-ratings post earnings.
Company Description
Carvana 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.
CVNA: This is going to make huge moveAfterall this name has huge shorts in it (56%) and also this is sitting at Double Top. Few key indicators to keep in mind:
1. Has been at Overbough situation for last 60 days.
2. They have not yet penetrated into bigger mkt yet and the potential is huge.
3. Negative divergence.
You decide. I know what I am playing.
Back Above the MA'sWe managed to rise above the 2 MAs relevant here. This is a sign thatthere is no selling pressure at least.
CVNA, you soar too high. I think CVNA is going to blow off some of these gains because Cramer noticed it and talked about it.
This is where we can test the Power of (very entertaining) Television Personalities.
I heard Cramer explain that this stock has no reason to be on such an upward tear. When I got home, I checked the charts. Indeed... there's no arguement. It's jammin. But why?
And I'll bet most of Cramer's viewers did the same thing today. And they're thinking the same thing. And a few are gonna sell.
So I think that a little put vertical is in order.
Detailed Elliot Wave count + possible projectionI think this stock has followed a semi-clean Five wave up, Three waves down from its inception and now is possibly going for completing the third wave. I the mentioned third wave, I think we can now identify the two sub-waves of the first leg in the weekly.
The "New" way to buy a car? No way.Investors are always on the look out for the new and innovative. Although Carvana fell -6% on its IPO debut, it has seen growth up to $71 a share based on the advantages of Carvana. Today, we see a a drop of 60% from the ATH . As more and more dealerships get on board with a money-back guarantee, the advantages of Carvana start falling very fast. Traditional dealerships have shipped vehicles long before Carvana inception. Traditional dealerships still hold the advantage of face-to-face interactions, lenders, interest rates, and accountability. Carvana is just another way to buy, and not the new way to buy a vehicle. With this, expect share price to continue in its downtrend to its IPO price or lower. Morgan Stanley also slashed its outlook for Carvana for another 40% from current prices.
