Carvana breakout

Updated

With hindsight, it wasn't wise to buy as it gapped up (blue arrow). Luckily, the stock has consolidated without breaking down. Yesterday, following the FOMC decision, it broke above the consolidation range. Expect an upside move on but there might be a resistance near $56.

Note

The stock moved swiftly to $56 and went past this level. Happy to continue to hold and inch the stop level as it moves up.

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