CVNA retest of the support at $360 soon?Carvana Co. stock forum
CVNA retest of the support at $360 soon?
CVNAPrice gapped into the macro resistance zone that has been outlined since my initial coverage of the trend structure in late May.
At this stage, I expect price to start forming a top for the uptrend that began at the April bottom. Ideally, price consolidates within the 425–435 extension zone. However, if the bullish momentum remains strong, a further extension toward 480 is still possible.
Chart:
tradingview.com/x/hEozxuvV/
Previously shared updates:
• On more upside potential (Jul 21):
tradingview.com/symbols/NYSE-CVNA/minds/?mind=XzEJB6tOSYuw2Mh2BA-5Ng
• On constructive bounce (Jul 2):
tradingview.com/symbols/NYSE-CVNA/minds/?mind=BHPi5jBBTSW-jJaWMdLsFQ
• On pullback to mid-term support (Jun 11):
tradingview.com/symbols/NYSE-CVNA/minds/?mind=B87Y42qyT7CsqDlR_TlrMg
• On potential upside toward Aug ’21 ATH (May 25):
tradingview.com/symbols/NYSE-CVNA/minds/?mind=rpDpgJvATB2r7gV9jrgFSQ
CVNA if this thing scallops, I think we’re headed towards $600 by the end of the yearCVNA $320 by Thursday, resulting in a bearish pin bar/engulfing candle on the monthly chartCVNA Price action continues to look constructive for at least one more leg higher toward the macro resistance zone outlined in my June 11 update.Chart:
tradingview.com/symbols/NYSE-CVNA/minds/?mind=BHPi5jBBTSW-jJaWMdLsFQ
Previous coverage:
On upside to Aug ’21 ATH (May 25): tradingview.com/symbols/NYSE-CVNA/minds/?mind=rpDpgJvATB2r7gV9jrgFSQ
On pullback to mid-term support (Jun 11): tradingview.com/symbols/NYSE-CVNA/minds/?mind=B87Y42qyT7CsqDlR_TlrMg
On constructive bounce (Jul 2): tradingview.com/symbols/NYSE-CVNA/minds/?mind=BHPi5jBBTSW-jJaWMdLsFQ
CVNA I wonder how long before big institutions switch from defending the share price in the face of massive insider selling and increasing headwinds for the used car market to rushing for the exit. Manufacturing good looking headline numbers that aren't in line with the rest of the company when considered holistically seems to be part and parcel of modern scam companys. There are many of them doing it these days because it seems retail traders aren't sophisticated enough to look deeper than the headline numbers that appear on the surface. This company looks absolutely terrible when you actually look into it and ask simply questions like the nature of their drivetime loan repurchase agreements or thier profitably and debt load.
CVNA The amount of baseless propaganda that gets printed by people working for large entities trying to protect their interests in this stock is nothing short of absurd. Sorry, but used car prices going up are actually from decreased demand for new cars from dealerships which is constraining the used car auction supply chain. Not only is this not necessarily good for CVNA as they simply have to pay more for their inventory it actually signals much less demand in the car market moving forward. Their cost to finance their inventory is going up, their profit margins are going down, and their sales volume is going down. Yet the stock is basically at all time highs with none of the negatives being acknowledged or in any way priced in. They have the audacity to frame something that is actually negative under a modest amount of scrutiny as positive.The thing is there simply isn't the liquidity in the market to absorb all the long's shares, so if they allow this to correct it's going to crash hard, which is why they don't. It's kind of funny how people don't seem to realize there are big money players looking at the technicals in this and many other things, who are manufacturing signals to take advantage of people using technical analysis.
CVNA Days away from hitting all-time highs
CVNA can someone enlighten me on how a stock price goes up if insiders, the ceo, and the CEO’s father are selling shares in the millions?CVNA bearish engulfing candles on every time frame. My guess is that $363 was the top and is forming a head and shoulders pattern. Just look at how perfectly symmetrical the left shoulder and head are. Now, I won’t count out the possibility of this pattern failing- resulting in an explosive move upward. People shorting can catch the completion of the head down to the neckline,which is about $285-$292 zone. Get out before the right shoulder starts to take off, or worse, fails to complete. Go short once the right shoulder completes and price breaks below the neckline.