CVNA: Potential Short Ideaputting the macro economic picture aside, CVNA appears to be topping out around $100 given previous gap/resistance and 5 wave corrective impulse completion.
CVNA trade ideas
$CVNA can rise in the next daysContextual immersion trading strategy idea.
Carvana Co. operates an e-commerce platform for buying and selling used cars in the United States.
The demand for shares of the company looks higher than the supply.
This and other conditions can cause a rise in the share price in the next days.
So I opened a long position from $74,60;
stop-loss — $71,00.
Information about take-profits will be later.
Do not view this idea as a recommendation for trading or investing. It is published only to introduce my own vision.
Always do your own analysis before making deals. When you use any materials, do not rely on blind trust.
You should remember that isolated deals do not give systematic profit, so trade/invest using a developed strategy.
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Carvana - Potential trade opportunityI will be looking for a long trade opportunity within the green area
Great dip buy opportunity on CVNA for a potential 35%+ ReturnCVNA has been on a strong upward trend for the past couple months and presents a great dip buy opportunity for a possible 35%+ return.
Optimistic view on CVNA Hi, I've taken my time to look into this graph, I see a quite clear willingness to bounce off of 200 MA daily, and could be a stop loss for an entrance with a less tight stop than the ones plotted on the graph.
I see the stock as being on a 3rd wave of its bigger 3rd wave, which should be great, hence my optimism.
I also believe it might go quickly from this spot in the coming days, as it has shown support on the 50 MA daily, which earlier has been the starting point for moving higher quickly.
I don't own this stock, always do your own DD.
Happy trading.
$CVNA Rising Triangle PatternOpened a position in this today when it broke the triangle. It did pull back in, I may have jumped the gun as this could be a false break-out. It is a nice pattern and did get an upgrade today with a $120 price target. I'm in at $96.02 still in the money. My stop is $90 and first target is a measured move to $112 then hopefully to $120 upgraded target. Ideas, not trading / investing advice.
CVNA - SHORT UPDATEOK....THIS POSSESSED STOCK BOUNCED LAST TIME IT TRIED TO DUMP BUT THAT GAVE US REAL NICE BEARISH DIVERGENCE / DOUBLE TOP SETUP. NICE SELL SIDE ACTION ON FIRST DAY.
CVNA Retest/RemountCVNA retested its $85 support level and remounted to continue further upside. It has also been creating higher highs and higher lows forming an Elliot wave pattern. This looks like its on its last leg of the Elliot wave after completing its correction. Looking for it to at least test its highs at the $96 level as an initial target. With a finishing target of $100-103 level where the last leg of the wave pattern will potentially complete.
CVNA - SHORT UPDATEHAD THE WEDGE DRAWN WRONG. TOP OF TREND LINE WILL BE AROUND 91.00 AREA FOR BEST POSSIBLE ENTRY FOR LOW RISK SHORT.
Nice Round Bottom Cup-N-HandleWatch this closely, it's a perfect pattern. The round bottoms are the best because they are less volatile, and last longer than V bottoms, shaking out weak hands. Keep an eye on the cup line and volume for a breakout.
CVNA Measuring GapPossible Measuring Gap, with second leg down to target area
The earlier two-side trading might act like a value area to pull second leg lower
Carvana Co set to drive higher. Chart is bullish but trade with caution does show some weakness.
arvana Co. is a holding company and an eCommerce platform, which engages in the buying of used cars and provision of different and convenient car buying experience. It operates through the following segments: Vehicle Sales; Wholesale Vehicle Sales; and Other Sales and Revenue. The Vehicle Sales segment consists of used vehicle to customers through website. The Wholesale Vehicle Sales segment comprises of the proceeds from vehicles sold to wholesalers. The Other Sales and Revenue segment composes of sales of automotive finance receivable originate and sell to third parties. The company was founded by Ernie Garcia, III, Benjamin Huston and Ryan Keeton on November 29, 2016 and is headquartered in Phoenix, AZ.
CVNACVNA, bullish long term. Needs lots of room to wiggle. Needs to tighten up a bit. Still only holding starter position from a few months ago.
CVNA BreakoutCVNA in the past two trading days has formed harmani doji reversal pattern paired with an ascending triangle as it leads up into resistance at the $68. It has tested this level 3 times already, giving it more momentum to breakout in the coming days.
CVNA Short Credit SpreadPutting on a Bear Call Spread.
$1.44 Profit/ Loss $3.66
Max loss is $144. Profit target is $72
It looks like a false breakout and moving sideways.
Market is going to get interesting as G20 meeting next week.
I'm betting it'll be a letdown.
