CVNA - EXPANDED OR RUNNING FLAT
Previously, I had put a rather bold prediction calling a shot term top when CVNA first hit the $28.50 price range.
Obviously, you cannot make a full prediction on how a correctional will play out, the most common of which are A-B-C setups. This is setup to be an expanded or running type of flat correctional.
Based on the key trend-line we have yet to test, my money would be on some form of long-drawn out running flat on the come-down followed by a decent surge once bears fail to take it down below the lower $21 price range.
Obviously, you cannot make a full prediction on how a correctional will play out, the most common of which are A-B-C setups. This is setup to be an expanded or running type of flat correctional.
Based on the key trend-line we have yet to test, my money would be on some form of long-drawn out running flat on the come-down followed by a decent surge once bears fail to take it down below the lower $21 price range.
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