Carvana Co.Long
THE EASIEST WAY TO SELL YOUR CAR AND MAKE MONEY
Analyzing CVNA’s chart shows us a fresh RSI low in late 2022, with a price action low as well. From that low, we have a clear 5 wave structure forming off the low that puts the current price action in the beginning stages of wave four, which has a target in the $100 zone. With wave three hitting the 200% extension, we can treat wave three as extended, which puts the final wave 5 target at the 238% extension, just over $150. Divergences in the RSI between wave 3 and 5 of 3 confirm the count.
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