CVNA trade ideas
CVNA NYSE:CVNA down trend channel broke off the channel heading to target but watch out Earnings is coming
CVNA - Looking for $328ish Short Term Had a nice 5 waves down and now looking for three waves up here towards 328ish
Carvana bouncing from its 200 EMA. As the earnings is approaching. Carvana looking to bounce from its 200 EMA line.
As it makes the move upward, it might potentially create momentum breaking its 21 day EMA (currently at $298) then its 50 day EMA (currently at $310).
First target within next few daily sessions is $300 to $310.
If it breaks above $315, Looking to test its ALL time high in next few months.
RSI is currently over sold. MACD signaling bullish crossover. (OVERALL LOOKING BULLISH IN FUTURE)
AVERAGE ANALYST PRICE TARGET - $401
Carvana couple scenarios so the price action with carvana appears to be making simple lower highs so if price continues to go down i would look to enter for options around 283 for shorts. however if price decides to break our optimized trendline then i would look to place call options around 290 provided the break is nice and solid
Carvana CVNA CVNA in a price channel and on downward trend, on its way to test MA 50 by Nov.
If breaks MA50 then T1 is $260 and T2 is $230.
CVNA Over value massive bull back CVNA OVER VALUE MASSIVE BULL BACK Elliot Wave is done Earning is coming on 08/05 be ready!!!!!
$CVNA Bullish Plan
Carvana is an online car sales platform that buys, sells and trades cars. You can purchase cars online and have them delivered to your house just days later; no negotiating with car salesman.
CVNA has also been profiting from the recent inflated used car prices due to chip shortage and high demand for vehicles.
Unusual Options have been detected on this name in the form of what looks to be SOLD TO OPEN IN THE MONEY PUTS. There is well over 100k in ITM sold puts for September 17tn and 24th with a strike price of $360 and $375.
Bullish traders would want to sell credit put spreads on this name in order to take advantage of theta decay or long options for October with a 5-8% OTM strike price.
OptionsSwing Analyst
Daniel Betancourt
Has Carvana Run Out of SteamCarvana ( cvna ) has been in a rally since mid-May and recently Carvana beat earnings by over 160%.
Shareholders who have been riding this profitable rally have raked in over 59% in unrealized gains. These same shareholders should now start to wonder if it's time to take some of that profit.
For online used car dealer Carvana, acquiring vehicles is less of a problem, said CEO Ernie Garcia, but the company faces a different kind of supply constraint.
Garcia said, "Over the last several quarters we've actually bought more cars from our customers than we've sold them. But we don't have the capacity today to certify as many of the cars as we could buy and we have more demand than we can handle as well."
The question savvy investors are asking is this. Has business for Carvana reached a ceiling for now, and therefore, has its stock price also reached the same point?
The stock price fell into a range of $328/support and $340/resistance for about two weeks before earnings. Then, after beating earnings, the stock price had a burst of momentum.
Now, the stock price, volume, and RSI have all turned lower while the economy is shifting and FUD enters the market.
So the question to ask must be; has Carvana's stock run out of steam for the next few months?
CVNA needs correctionsThe price is very extended. There are two rising wedge patterns on the daily time-frame. A correction is probable.
CVNA waiting for clear breakout9 Month-long ascending triangle
Steady Uptrend
Volume is on lower side, want to see a high volume breakout
CVNA is running out of Covid Fuel - Short-Looks as though CVNA has exited its channel up and has now turned into a down trend. Covid has made this one way over valued, no doubt CVNA will they have a good showing come earnings but I think this one has ran out of the Covid fuel its been using to get to these levels. CEO's dad, Majority Shareholder and convicted felon has been selling shares left and right through all this getting rich on a company that is not profitable and way over valued. I see CVNA dipping to the low to mid $260's before earnings, a earnings beat with a
small 6-8% pop to move it close to the top of the new downtrend channel but after that there's is no stopping this high flyer from dropping back under $200! Get your $horts ready boys, its about to be $ummer time!
- This is not investment advice, its only my novice opinion and if you follow this without doing your own research you are in fact a degenerate.
$CVNA noob trend analysisLooking at the daily chart here and how the price moves in relation to previous earnings and subsequent trends created.
Observations:
1) Begin looking around earnings Aug 2020, after trading between trendlines since covid plummet in March. Beats estimates by 24% in Aug earnings and we see massive (28%) single day jump on the following day, followed by a subsequent 14% pullback the following day.
2) CVNA trades in between trendlines at a much softer angle until earnings on Oct 2020, where they beat 64%. This triggered selloffs on the three days around earnings followed by (I believe) a bull hammer at the bottom indicating a reversal into another sequence of trading between sharper positive trendlines. Gains about 60% over 43 days.
3) Seeing a triangle pattern. In true coinflip earnings fashion, price jumps out of the downward upper trendline after missing earnings -77%. Other than that this channel has continued consolidating slightly downward.
Analysis/Plays:
1) The YOLO Earnings play: Expecting an upward swing to break out of this channel like we saw with the previous earnings. This will also depend on how the big boys earnings look the previous week (4/26-4/30). Recommending what george would with a call spread for the short term. EDIT: Could see a run up into earnings at test previous resistance of 300 around the date. If you look at the hourly on last Friday we had some strong momentum on the buy side into close. This could be a precursor of the earnings run-up or some channel noise and will largely be affected by FAANG earnings next week.
2) Following that I'd expect an eventual breakout to the downside. If my analysis of the pattern is correct and we are in a triangle we could see a breakout to the downside and test previous RR support. This eventual downtrend is supported by overvaluation of the company in relation to revenues as well as consistent and increasingly frequent insider selling: https://tinyurl.c om/3xeuy3kw. EOY puts could be the play to the downside.
