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CARVANA CO

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CVNA trade ideas

CVNA Big Bullish PotentialHey guys! Found a setup I happen to really like that Carvana NYSE:CVNA has been forming this past few months. I generally would stay away from a company/stock like Carvana, as potentially bankrupt-bound companies are not what I like to trade. But I couldn't help but realize the Cup & Handle being formed on the weekly chart currently. Below are some highlights of what I find attractive in the technical layout of this setup: - Weekly Inverse Head & Shoulders / Cup & Handle - Momentum is leaning bullish (TTM_SQUEEZE) - Bought up from $20 demand zone - Daily Chart has ema cloud bounce - Decent Volume Accumulation Limits to this / confirmation needed: - Weekly ema cloud testing key area - Monthly Ema Cloud key level as well Closing Notes: I do believe that this technical setup is very strong. I also like that not many of the fundamentals & catalysts will likely play into this as Q3 Earnings just reported. This ER also swung a profit in EPS, and sent a pop in the stock adding to some positive sentiment surrounding NYSE:CVNA Overall I am looking to go long on a bullish retest of some sort and wanted to share a setup I have not seen in a while!
NYSE:CVNALong
by ZachSap
CVNA looks ready to breakdown. What a thing of beauty. Talk about all the bullish momentum going to hell. What can you say, its been a heck of a run. I don't even think a SL is gonna be necessary here, but Friday's high seem ok. I won't wait that long though, ill probably just buy back if it can grab hold of the UTL and pass a retest, or get far enough away from my buffer. Im shorting on the open as long as it hasn't gapped down too much. If it has ill wait for some kind of retest.
NYSE:CVNAShort
by Shagoyev
1
CVNA Macro ProjectionMacro Analysis for Carvana (CVNA) Projection: Based on a comprehensive analysis of pattern and cycle analysis, I anticipate a significant retracement in Carvana's stock price over the next 6 months. This retracement is projected to amount to approximately -50% from its current valuation. Technical Analysis: Technical indicators corroborate the assessment of overbought conditions and the emergence of a liquidity zone. Additionally, Indicators such as Spots , Changes and Levels align with the projected retracement targets. Pattern Analysis: Historical pattern analysis reveals similarities between Carvana's current price movement and previous instances where other securities in the form of fractals or 1-1 matching reached similar levels. The recurrence of such patterns lends credibility to the projection of a retracement. Targets: First Target ($75 Range) (0-3 months): The initial target for Carvana's retracement lies within the $75 range. Second Target ($50 Range) (3-6 months): A secondary target is identified within the $50 range, signifying a deeper retracement and potential consolidation phase.
NYSE:CVNAShort
by TradingWithEmotion
Carvana Shares Spike 35% on Earnings Beat First Quarter Results Carvana ( NYSE:CVNA ) stock Skyrocketed more than 30% during Thursday's market open after the used car retailer reported record results and turned a profit during the first quarter. Company's Performance Earnings per share: 23 cents — it was not immediately clear if it was comparable to the loss of 74 cents expected. Revenue: $3.06 billion reported Vs. $2.67 billion expected Carvana ( NYSE:CVNA ) reported record first-quarter net income of $49 million, compared to a $286 million loss during the prior-year period. Carvana ( NYSE:CVNA ) also posted an all-time-best adjusted earnings before interest, taxes, depreciation, and amortization, or EBITDA, of $235 million, up from a $24 million loss a year earlier. Carvana's ( NYSE:CVNA ) gross profit per unit, or GPU, which is closely watched by investors, was $6,432. Carvana’s adjusted EBITDA profit margin for the quarter was 7.7%. Carvana’s net income included a roughly $75 million gain in the fair value of Carvana’s warrants to acquire Root Inc. common stock. This did not impact its GPU or adjusted EBITDA. “In Q1, we delivered our best results in company history, validating our long-held belief that Carvana’s online retail model can drive industry-leading profitability while delivering industry-leading customer experiences,” Carvana CEO and Chairman Ernie Garcia III said in a release. He reiterated that the company’s performance was driven by efficiency gains in its operations, especially the reconditioning of vehicles for sale as well as selling, general, and administrative expenses, among other areas. Carvana ( NYSE:CVNA ) expects to continue to grow its adjusted EBITDA profit margin further as the company continues to grow, according to Garcia. He declined to disclose how high the company believes it can grow those results. The company anticipates further cost reductions or efficiency gains to increase profitability through areas such as advertising as well as overhead and operational expenses. Garcia said Carvana ( NYSE:CVNA ) is working on increasing vehicle reconditioning and profitably rebuilding its vehicle inventory, which was nearing an all-time monthly low of 13 days’ supply in March. It has increased its reconditioning capacity of vehicles to prepare for sale by roughly 60% during the past year. he told CNBC that “Acquiring inventories, generally speaking, feel relatively straightforward to scale, but growing the recondition capacity is difficult,”. “Inventory today is certainly tighter than we would like for it to be. We’re working hard to build it back up, but we’re extremely well-positioned to do it.” Over the past two years, the results follow a major restructuring by the company to focus on profitability rather than growth, after bankruptcy concerns when Carvana’s stock lost nearly all of its value in 2022. Carvana ( NYSE:CVNA ) Shares have recovered since then. They had climbed roughly 67% year to date before the company reported its first-quarter results. The stock closed Wednesday up about 5% at $87.09 per share. For Q2, Carvana ( NYSE:CVNA ) said it expects a sequential increase in its year-over-year growth rate in retail units, and a sequential increase in adjusted earnings before interest, taxes, depreciation, and amortization. Technical Outlook Carvana ( NYSE:CVNA ) stock is trading within the overbought region with a Relative Strength Index (RSI) of 82.10 posing a threat of a trend reversal in the near term. Furthermore, the stock indicates a breakaway gap which occurs when the price gaps above a support or resistance area due to a news or fundamental.
NYSE:CVNALong
by DEXWireNews
CARVANA $CVNA | RANGE BREAKOUT BEFORE EARNINGS - Apr. 23rd,CARVANA NYSE:CVNA | RANGE BREAKOUT BEFORE EARNINGS - Apr. 23rd, 2024 BUY/LONG ZONE (GREEN): $72.50 - $81.25 DO NOT TRADE/DNT ZONE (WHITE): $68.50 - $72.50 SELL/SHORT ZONE (RED): $60.00 - $68.50 Weekly: DNT Daily: DNT 4H: DNT, lean bullish This was requested at the end of last week but I didn't get around to it. I drew up this NYSE:CVNA chart analysis yesterday as I was entering a new trade, but wanted to wait until today to post it. I did not adjust the zones and kept them as they were yesterday, even though today price has already broken into the bullish zone, there is still room to enter new trades to the upside, or if bears want to take on some extra risk they could enter extremely early here if they expect a pullback. Earnings release next Wednesday, May 1st, 2024, and I'm looking to take advantage of possible volatility. NYSE:CVNA has broken down structure on the weekly timeframe, developed bearish structure on the daily (which is now broken as of today), and had a defined range on the 4H (which was also broken as of today). Previous NYSE:CVNA trade idea is linked below! This is what I would personally look at before entering trades, everything is subject to change on a daily basis and as I analyze different timeframes and ideas. ENTERTAINMENT PURPOSES ONLY, NOT FINANCIAL ADVICE! trendanalysis, trendtrading, priceaction, priceactiontrading, technicalindicators, supportandresistance, NYSE:CVNA , carvana, carvanastock, cvnastock, cvna, carvanaearnings, earningsreport, earningsrelease, carvanaearningsreport, carvanatradeidea, carvanapricerange, rangebreakout, rangebreakdown, carvanarange, rangetrading, chartpatterntrading, chartpatterns,
NYSE:CVNA
by TonyAiello
2
CARVANA $CVNA - Feb. 15th, 2024CARVANA NYSE:CVNA - Feb. 15th, 2024 BUY/LONG ZONE (GREEN): $48.00 - $60.00 DO NOT TRADE/DNT ZONE (WHITE): $40.00 - $48.00 SELL/SHORT ZONE (RED): $25.25 - $40.00 By request. My main focus would be on the range between $40.00 - $48.00, this area has determined the trend five times, which are seen each time price touches and breaks or touches and rejects. Currently I'm looking at a bull trend that was set after a breakout of the range in the $40-$48 zone. Any data before June 2023 I was not considering. If I had to look for an upside target, assuming the trend stays bullish long term once price reaches $60, the next logical point would be $103. Due to the lack of data and because price is trading away from the start of my bullish zone, I personally would not look to enter until there is a reaction to the $60 area or a pullback to the $48/$49 zone.
NYSE:CVNALong
by TonyAiello
3
Carvana Co. Class AKey arguments in support of the idea. • Declining used car prices in the U.S. could weigh on the Company's sales. • Carvana's high debt burden remains a significant risk. Investment Thesis Carvana Co. (CVNA) is one of the largest online-only used-car retailers in the U.S. The Company performs almost all the functions a physical dealer would offer, including buying and selling cars. Carvana is known for its network of vending machine car dealerships, where buyers can pick up their purchased cars, avoiding lengthy communications and checkout procedures. As of December 31, 2023, the Company operated in 316 major U.S. cities. Used car prices in the U.S. are trending down. The Manheim Used Vehicle Value Index, which is one of the key indicators of used car prices, has shown monthly drops of more than 10% since the beginning of the year against the values of the previous year. The downward trends in prices are being observed not only in the wholesale used car market, but also in the new car market. American automakers in their forecasts for 2024 note that they expect some decrease in selling prices. These assumptions suggest that Carvana's revenue may remain under pressure this year after the Company's 2023 earnings showed a 20% y/y decline. Carvana's cost-cutting initiatives to achieve positive operating margins may not succeed. The Company remains unprofitable at the operating profit level, but its growing debt burden is forcing Carvana to focus on margin expansion. As part of its cost-cutting plan, Carvana has significantly reduced advertising spending and optimized personnel costs, but overall overhead expenses per car sold increased to $1,741 in the third quarter of 2023, up from $800 in the first half of 2021. The reduction in advertising expenses per vehicle sold by more than 20% y/y in 2023 may have contributed to the decline in revenue last year, although it helped reduce the share of total administrative expenses as part of revenue. Carvana's high debt burden remains a major risk to the stock. We see that the Company had $960 million on its balance sheet at the end of last year, which is lower than the size of Carvana's adjusted net loss for the year. The Company has nearly exhausted its ability to raise new financing through debt accumulation. On September 11, 2023, S&P assigned its 'CCC+' credit rating to Carvana, reflecting an increased risk of default on its obligations. Net Debt/EBITDA'2024 is currently estimated at 14x based on FactSet's 2024 EBITDA consensus forecast. In the coming quarters, the Company may need additional financing through the sale of shares. This step could have a significant negative impact on the stock. We believe that in the short term Carvana Co. stock may end up in negative zone. We maintain a Sell rating on CVNA stock with a price target of $60. A stop-loss order is recommended at $78.
NYSE:CVNAShort
by FreedomHolding
CVNA | I Like This One | Bullish DivergenceCarvana Co., together with its subsidiaries, operates an e-commerce platform for buying and selling used cars in the United States. The company's platform allows customers to research and identify a vehicle; inspect it using company's 360-degree vehicle imaging technology; obtain financing and warranty coverage; purchase the vehicle; and schedule delivery or pick-up from their desktop or mobile devices. Carvana Co. was founded in 2012 and is headquartered in Tempe, Arizona.
NYSE:CVNALong
by DivergenceSeeker
2
CVNA Weekly ChartI’ve been watching and trading CVNA for a few years now. We can see it trading in a bullish channel, however it is facing resistance at the top part of the channel. RSI is well-overbought and we are also seeing bearish divergence on the MFI which is signaling to me a correction in the near-term. Looking for support from the peak of the last rally with a price target at/around $57. Aside from technical indicators, Carvana does not have enough cashflow to justify its near-$90 price tag. Not only considering revenue, Carvana’s egregious amount of debt is enough to consider its price irrational. While I am bearish in the near-term on Carvana, I am still bullish in the long run. Despite their enormous debt, they have proven to be successful in being able to manage it and minimize it, while also increasing revenue.
NYSE:CVNALong
by damyam23
1