Get started
Carvana Co.CC

Carvana Co.

No trades
See on Supercharts
Overview Financials News
Ideas
Discussions Technicals Forecast Seasonals Options Bonds

CVNA trade ideas

Is CVNA setting up a short trade with its pop?CVNA on the 2H chart appears to be retesting the resistance zone established by a head and shoulders pattern over the middle of June. Additionally, on the stochastic RSI it is at a level from which it reversed on May 25th as well as the pivot highs associated with the H & S. While volume is above the running average, it is not a spike and so without high significance. I see CVNA as reversing now or very soon. I will monitor this on a lower time frame and look for an entry. Once I see some indecision HA candles and their color change from green to red accompanied by some volume and/or volatility possibly confirmed by a bearish divergence downtrend on the RSI I will take a short trade and potentially a put option as well. I think short sellers will be stepping in here with volume after the price spike CVNA just completed. I will be among them.
NYSE:CVNAShort
by AwesomeAvani
CVNA - Trending but volatileCVNA had broken out of its basing formation neckline (a region between $17- $20) on 8 Jun on huge volume. It hit a high of 28.52 on 16 June before pulling back to retest near the neckline @ 20, then rebounded again from there. IT's trend is in earlys stage yet with immediate suport @ 20. However be mindful that lower priced stocks tend to have huge volatility (both up and down). Hence it is important to position size accordingly or chose to exit if it pulls back beyond a certain % and wait for entry again once there are signs that the short term correction is over. Watch out for resistences on the way up around $42 and also around $53+. Also be careful around earning releases. Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is (probably the most) important! Take care and Good Luck!
N
by Juliac
CVNA - Bulls Are Just BeginningCarvana is setting up for quite the run. Despite seeing a quick increase in price from $15 a share all the way to $26, this Elliot wave count presents a sizeable 3rd wave extension. Right Now It looks like we've completed a minute 3rd wave extension, price is looking to move in a serious pullback. The $15.20 range is a big aggressive! If bulls are impatient or a short squeeze is primed, the minute c wave may barely past the a wave. Ahead? We need to see more price action before getting more specific price targets, but in the short term (next 2 months) I am eyeing the $30-32 price range before our next major pullback.
N
by ThePennyMan
$CVNA A Pure Short Squeeze PlayAlready up 311% YTD, Carvana Co. (NYSE: CVNA) could be on track to continue its impressive run thanks to its recently announced Q2 financial outlook which is better than expected. Following the release of the improved financial outlook CVNA stock soared more than 64%, however, the stock recently lost 21% due to analysts’ suspicions that the improved Q2 forecast is a one-time thing. Despite this, the recent sell-off could be an overreaction since CVNA is successfully implementing its turnaround plan which might see CVNA stock continue to climb ahead of its much anticipated Q2 earnings with its extremely high short interest. CVNA Fundamentals Improved Q2 Outlook With the new Q2 2023 financial outlook, CVNA is looking to achieve its first step in its plan to tackle its long-term debt since it is expecting to achieve an adjusted EBITDA of more than $50 million. Furthermore, CVNA increased its total gross profit per unit (GPU) forecast by 20% which is a massive advancement in its second step. The new guidance is showing that CVNA is on the right track and is improving its position quickly – especially with the company increasing its loans sold or securitized to nearly $2 billion compared to $1.3 billion sold or securitized as of May 4, 2023. Following CVNA stock’s impressive run on the promising Q2 outlook, the stock saw itself fall more than 21% due to analysts suspecting the improved Q2 forecast is a one-time upside. Analysts believe that even if CVNA achieved positive adjusted EBITDA, it would come at the expense of revenue growth. With that said, CVNA’s first priority is tackling its long-term debt and it is willing to sacrifice growth to do that since the debt poses a more significant threat to CVNA than its growth prospects. Will The Squeeze Continue? In the meantime, CVNA remains highly shorted with a short interest of 64.1% and 76.8% of its float on loan. At the same time, utilization rate remains high at 100% which indicates that CVNA might skyrocket on its Q2 earnings if the company delivers on its projections as that would signal the success of the company’s efforts to turn around the business. Technical Analysis CVNA stock’s trend is bullish with the stock trading in an upwards channel. Looking at the indicators, the stock is trading above the 200 and 50 MAs which are bullish indications, yet it is trading below the 21 MA which is a bearish indication. Meanwhile, the RSI is neutral at 49 and the MACD is bearish. It is also worth noting that the stock has a gap near $15.7 that may be filled in the future. As for the fundamentals, CVNA just witnessed a catalyst in its Q2 financial outlook update and has a major upcoming catalyst in its Q2 earnings. Since this earnings report is critical to see whether CVNA is moving in the right direction to tackle its mounting debt, the stock could soar on a positive earnings report. CVNA Forecast CVNA’s updated Q2 financial outlook provides some positive signs for its future since it is steadily implementing its plan to tackle its long-term debt. In this way, analysts’ fears regarding CVNA not achieving revenue growth appear to be out of place especially since CVNA was clear that it is going to prioritize profitability over revenue growth. Based on this, the recent sell-off could be an opportunity for investors to hop on the CVNA bandwagon in anticipation of a short squeeze on its Q2 earnings.
N
by Penny_Stocks_Today
More High or ... ?hi everyone i think this is enough for a day and you may close some of your position and see what will happen next The information provided on this Page does not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the website's content as such. this page does not recommend that any cryptocurrency should be bought, sold, or held by you. Do conduct your own due diligence and consult your financial advisor before making any investment decisio
N
by expay24
CVNA - Retracement UnderwayCVNA in the past couple of trading sessions had a 20 % move and then reversed downward. As shown on the 1 hour chart, price is below the demand/ resistance zone and sitting on the POC line of the multisession volume profile where volatility is often at its highest. The anchored VWAP indicator shows the bands are nearly flat. Price is in the fair value zone and falling towards VWAP. RSI is near 60 and dropping. I see this as a decent short setup. The first target is before the VWAP at 11.20 while the second target is at 10, the confluence of the bottom of the high volume area and the first VWAP band below the mean. the stop loss is near to the first VWAP band above the mean at 12.55. Fundamentally, CVNA has a decent earnings report but is subject to an impending recession where consumers may be not inclined to make big purchases such as cars.
NShort
by AwesomeAvani
4
$CVNA-Regular Divergence Indicates Potential Bearish OpportunityCarvana ( NYSE:CVNA ), the innovative online used car retailer, has recently shown signs of a regular bearish divergence on its chart, indicating a potential reversal in its current trend. With an identified entry, stop loss, and take profit points, we could be looking at a shorting opportunity here. Technical Indicators: The regular bearish divergence, circled in yellow on the chart, suggests a weakening in the current uptrend. This pattern is often a sign of a potential upcoming bearish phase, making it an opportunity for short sellers. Trade Setup: Here's a potential trading setup based on the current technical indicators: - Entry Price: 12.56 - Stop Loss: 13.70 - Take Profit 1: 10.77 - Take Profit 2: 9.13 This setup offers a good risk to reward ratio. The stop loss is set above the recent swing high, limiting potential losses if the price unexpectedly rises. The two take profit points allow for managing the trade more efficiently, taking some profit at the first target and letting the rest run if the price continues to move favorably. Options Play: For those interested in options, a Put option expiring on May 19th with a strike price of $10 could be a potential play. This would gain value if NYSE:CVNA stock price decreases, aligning with the bearish divergence. NYSE:CVNA current technical setup suggests a potential bearish opportunity. However, as always, it's essential to manage risk effectively and ensure the trade aligns with your overall trading strategy. *Note: This analysis is for informational purposes only. Always do your own research and consult with a professional advisor before making investment decisions.*
NShort
by TicksandWicks22
Watchlist 2023-05-05 $SPY $ZION $FHN$FHN $LYFT $CVNA $GOLD $UPWKAMEX:SPY - gapping back into the 408.50 supply area after a battle at the bottom yesterday. 408.5 was the low at the FED day meeting and was the place that broken PD before trending lower to 403.50. I think it's important if we can get above and stay above this level, potentially testing 413.50 again if we do. For further confirmation of a trend day, watch for: USI:ADD pinned near +\-2000 USI:VOLD ratio over +/- 3 USI:TICK cumulating past 0 wicking to +/-900 Region banks are again in play today, those that were not directly affected by yesterday's news (so aside from NASDAQ:PACW ) are gapping up on elevate RVOL. NASDAQ:ZION - had a crazy flush down past the early pivot lows of 20.50. With the elevated vol that took place at this level it appears it was a form of capitulation. If we stay above PD high of 22.30, the long is in play. Look for early signs of strength with an engulfing move or a confirmation test off 22.30 or 21.80. . NYSE:FHN - same with FHN -support area is at the BO area from PD of 9.77. Looking for BO over 10.80. NYSE:CVNA - rallied 25% in the aftermarket Thursday after the online used-car company narrowed a quarterly loss and said it expects to reach positive adjusted EBITDA in the current quarter. Up 48%, 4.3 ATRS, on 1.1 RVOL. Although it can get spicing for short is it gets above 10.83, it's up too much for a trade for me this morning, would need to see some base form perhaps around 9.74, 10.30 for confirmation NASDAQ:LYFT - Lyft stock sinks as forecast falls short of estimates, while new CEO takes aim at Uber. Particularly important just after UBER posting terrific earnings and guidance. Support 8.60 and 8.22, which I think we certainly get to today. Res at 9.58. Need to see a pattern form with at least 2-1 RR, hopefully and intraday high to risk off or else this trade can't be taken at the current PM price of 9.12. Also need to see vol pick up as it's only at 1.1 RVOL. Other Watches TVC:GOLD under 20.00 Get short into a retest and failure of this area. NASDAQ:UPWK - over 8.10
N
by UnclePennybagss