CAR trend follow longCAR in weekly uptrend, had a nice break of tight daily wedge, looking for a pullback entry and trend follow
CAR trade ideas
CAR retest + trend followCAR in a weekly uptrend.
Recent BO off earnings and pulling back. Looking for a retest of either the BO range or PoC and continuation.
Sympathetic Trade: Where there's smoke, there's fire !Where one stock in an industry goes up its competitor or similar companies in other markets might also go up. This can be described as a phenomenon of "sympathetic trading" or "sympathy moves" . In the stock market, a sympathy move is when the stock price of one company moves in tandem with the stock price of another company in the same industry. This happens because market participants assume that what affects one company will likely impact others in the same sector.
For example, if a tech company reports strong earnings, other companies in the same sector may also see their stock prices rise due to the assumption that they may be experiencing similar success. This doesn't always hold true, but it's a common occurrence in the stock market.
Note that such co-movements can also occur due to shared exposure to macroeconomic events or broader market sentiment rather than industry-specific news. It's a common theme of the interconnectedness of financial markets.
In this case online used car seller Carvana stocks jumped close to 60% , a MASSIVE move on the NYSE today on good news of the second hand car market recovering reflected in their sales and forecast for the rest of the year. Carsales.com(.au) a major used car seller website in Australia and other markets might also experience a similar upturn in demand.
Carvana.com and Carsales.com, both being in the automotive e-commerce industry, have similar business models and might be subject to the same macroeconomic factors, industry trends, and customer behaviors. If Carvana.com sees a substantial increase in its stock price, it could indicate positive developments or favorable conditions within the online car sales industry as a whole.
Thus, traders might speculate that Carsales.com could also benefit from these positive developments or conditions, and this could lead to a rise in its stock price. However, it's important to remember that while this logic can sometimes hold true, it is not guaranteed. Each company's financial health, management, and specific circumstances also play a huge role in determining its stock price.
It's also worth noting that the stock markets in different countries (in this case, the US and Australia) might not react in the same way to the same news. Factors such as time zone differences, local economic conditions, and regulatory environments can influence how similar stocks perform in different countries.
Sympathy trades across different markets can sometimes give you a good early indication of industries and stocks that might be about to turn around.
Carsales in this case does look like it could be at a good support area so could be good timing for an entry if you do your due diligence and decide it might be a good trade.
Be interesting to see how it plays out.
CAR.ASX | LONG ASSUMPTIONCAR.ASX up to 1+SD (Take profit line) of the current mean (golden line). Could see price reject or accept profit target unclear how the price will react to this level hence my take profit. May re-enter long if the break of TP+12pts or vice versa.
CAR - Bullish Accumulation Distribution (ADL) divergence tradeADL trend is up while price action is trending down - bullish divergence.
Price today at 21.99 took out the pivot point (resistance) at 21.51. Closed higher than previous day on above average volume. It did form a doji and going ex div tomorrow so could potentially pullback.
It is also in a low vol profile region and can potentially move up quickly until it reaches the next high vol node.
Will see the price action tomorrow and planning to make the following trade if the uptrend continues.
Entry price around the nearest high vol node 21.24 where a lot of trading is occuring.
TP into the high vol node area above the low vol region.
SL just below the next high vol profile area below the entry level. Hoping the higher vol above the SL will provide support and not trigger the SL.
CAR @ 6 OCT 2021Text me if you have any questions/comments for me.
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CAR
- Previous video analysis was done on 30 Sep - Suggested waiting for successful rebound to $26 levels before plotting entry
- Instead, the stock continued to show weakness and has now closed below the mid-term support
- If the structure has yet to break, there definitely is a big tear in the trend
- Any further drop below $24 would constitute a structure break
- Strategy-to-buy (DYOR) – Suggest waiting for a series of HHs and HLs to form
CAR @ 17 SEP 2021Text me if you have any questions/comments for me.
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CAR
- Previous analysis was done on 13 Sep - Suggested waiting for successful rebound at 25.75 levels before plotting entry
- Today’s price action with above average volume looks good
- If you missed the previously suggested entry, current levels still provide good opportunities
- R is less than 10%
- Strategy-to-buy (DYOR) – Suggest entry at current levels if believe the stock is capable of forming new all-time highs
CAR @ 6 SEP 2021CAR
- Previous analysis was done on 1 Sep - Suggested waiting for a successful rebound and entry around 26 levels
- Today’s price action is good albeit slightly below the daily average volume
- Created new all-time high
- R is borderline 10%
- Strategy-to-buy (DYOR) – Suggest entry at current levels if believe the stock is capable of creating new highs
CAR @ 1 SEP 2021CAR
- First time doing a written analysis on CAR
- Has a history of good uptrends over the years
- Recent price action since mid-Aug has seen the stock gone up quite far from the short-term support
- I was hoping to see a stronger pullback to the short-term support for a better setup for entry
- This week’s price action shows signs of a reversal and the stock looks to be in a rebound
- A successful rebound would be near 26 levels -> due to sharp retracement at the beginning of the retracement wave
- R is less than 10%
- Strategy-to-buy (DYOR) – Suggest waiting for a successful rebound before entry near 26 levels
CAR Long after breaking out of all time highEntry: 22.60
Stop loss: 22.04
Went long after stck broke out of all time high with volume.
Car Sales - Ascending Triangle - BullishHigh probabilty trade here with 15% + upside. On the technical side the chart is showing a bullish ascending triangle, whilst on the fundamental side management have put in place strategic cost cutting measures. Should be some tailwinds as well once the lockdown eases.
ASX: CAR breaking out to target 50%fibASX: CAR
The share bounced off Weekly Support.
In H2 Chart, we see a nice breakout at 38.2 fib.
We may look tomorrow for any lower price entry to increase the R:R.
So far stop loss would be at 6 percent and TP (at 50% fib) would be 7%.
Partial Profit close is also an option to target more profit at 61.8 Fib.
$CAR:ASX - CARSALES.COM - Running nicelyCarsales has been having a nice steady run, up 55% over the last 12 months. Could be worth a watch.
Carsales.com Ltd. engages in the operation of online automotive, motorcycle and marine classifieds business. It provides car buying and selling services in Australia. The company also provides provide online advertising solutions to media agencies and its clients, dealers, industry organizations and many other businesses. It operates through following segments: Online Advertising, Data, Research and Services, International, Finance and Related Services. The Online Advertising Services segment comprises of classified advertising, which allows customers to advertise automotive and non-automotive goods and services for sale across the carsales network; and display advertising, which displays the product or service offerings of the corporate advertiser. The Data and Research and Services segment offers software, analysis, research and reporting, valuation services, website development and hosting as well as photography services. The International segment operates in overseas countries through subsidiaries and equity accounted associate investments. The Finance and Related Services segment provides innovative vehicle finance arrangements, vehicle procurement and other related services to customers. The company was founded by Gregory Paul Roebuck on June 18, 1996 and is headquartered in Richmond, Australia.
Long Carsale RSI and MACD looking good.
The stock price is above all moving averages.
Breakout the triangle.
The falling knife - returning to the point of controlCarsales has endured the same fate as many tech stocks in October and like the degenerates we are, we're here looking to catch a falling knife.
The stock traded in a nice channel for a full year before breaking down. Take note of the point of control where most volume has taken place in this time period, if this was an overreaction we have a target to get back to the point of control, if not a stop at 9% just below the next low volume node.
This is not financial advice, I am not a financial adviser. Trade at your own risk.
CAR potential continuation H&S on weeklyLeading stock CAR setting up for potential break upwards on continuation H&S.
Target from H&S bottom is approx 17.3.
Strong break above neckline could push stock past phase 3 on hyperwave.
$CAR pushing out of Cup & Handle pattern on good volumeThe strong volume on the break of the handle today is very bullish and could see CAR going to ATH in the near-term.
