CVNAReverse head and shoulder on the reverse head and shoulder. The breakout of the smaller head and should takes us above the neckline of the larger head and shoulder. Strong buy!!!
0A79 trade ideas
CVNA Long after completed Fib. RetracementCVNA on a 30 minute chart trended up from November post earnings for 6-7 weeks until
December 20th and then started falling from a head and shoulders pattern at the pivot.
The Fib retracement tool is used to draw the retracement of the prior up trend. The Trend
Based Fib Time is used on that prior up trend to show fib levels across time instead of price.
Price is currently at the 0.5 Fib retracement for price and also at 0.5 for the latter tool.
The other indicators show rising RSI, a flip between positive and negative directional indices
and volatility beyond the running mean. I will take a long trade here targeting 52.3 which is
just under a 0.5 fib retracement of the recent trend down. The stop loss will be set
at 42.8 at the level of the reversal narrow-ranged candles. A option trade will be entertained
for the February monthly expiration.
$CVNA CVNA forming a I&HS continuation , backed by triple digit EPS growth .. Pattern becomes valid 3% above neckline
CVNA Wedge Breakout on DailyCVNA has broken out of a wedge on the daily chart after carving out a nice bottom. 40% short makes this a very appealing squeeze candidate. Let's see how it closes!
Buy ideaI potential Head and Shoulders pattern. Zoom in to smaller timeframes to locate an entry.
Price beaks out of the flag/ corrective channel
Carvana ready to fulfill a true cup & handle breakout over $57Looks like CVNA is ready to breakout in a cup/ handle. Everyone said that it broke out already and is now dying down. But the final handle/ falling wedge is showing signs of a breakout. I posted this at $42 last week but re-emphasizing at $44. As long as you hedge you're not late.
You can capitalize on both ups and downs if you have insurance (hedge).
$CVNA Bullish Megaphone and Inverse Head and ShouldersCVNA looks to be consolidating here. It looks like the bottom may be in and it is forming two bullish patterns at once - a megaphone as well as an inverse head and shoulders. Neckline is in purple, megaphone in orange.
CVNA - Pullback & Future OutlookSubject: Pullback & Future Outlook
Based on my analysis, it's not surprising CVNA is seeing a large pullback. Especially after confirming the cup and handle pattern by breaking through historical resistance at $40 price level. It then briefly broke through historical resistance at $55 price level before pulling back.
CVNA is currently filling the large volume gaps left at the $40-$50 price range. Based on my fibonacci retracement levels, I foresee a reversal happening around mid to late January. This reversal will likely occur once price has reached historical support and consolidated at the $35-$40 price range.
Currently waiting on the RSI and MacD indicators to showcase a reversal in the downtrend on the 4hr timeframe. Also further confirmations from the 10/20/50 day moving averages, along with the ZigZag indicator. Targeting a strong value buy entry at the $40 price target, after selling puts extending through 1/12/24. The options premiums are VERY enticing and I foresee a future run up after consolidation.
I will continue to update this post as time goes on. Happy New Year!
CVNA BULLbounce, into 50.51 stop losses
took out daily lows, ez liquid is to upside on short stops triggerdd
CVNA Cup and Handle IdeaCVNA forming a cup and handle after a big run up. 37% short float. Zoom out and there's plenty of room to run. First idea I'm watching into 2024.
CVNA is Ready to Rally
NYSE:CVNA Carvana Co. found a bottom at the all time low of 3.57 on Dec 7, 2022 after a significant decline from all time highs above 375 in August of 2021. The boom was largely driven by economic factors, there was a booming Used Car market with ultra-low interest rates and a desire to stay indoors with the pandemic that pushed people to use the new type of car-buying delivery service. The following bust was also largely economic: a waning Used Car market, rising interest rates and a subsequent bunch of bad earnings for CVNA.
Now CVNA has steadied revenue, consistent Green Earnings Beats and made consistent higher lows from the bottom and shown strong supports at 7, 25, and 38. While up nearly 15x from the low a year ago, there is a lot of room to run even at current prices. Strong growth potential and the acquisition of brick/mortar car dispensers will allow for more robust revenue beneath the continued growth in deliveries as interest rates level out and the Used Car market resurfaces.
Expect this major bounce momentum off the All Time Low to continue to at least a 38% retracement and previous resistance levels of 145 at a minimum target. With time and consistent momentum, as we've seen over previous years on this asset, prices will likely go back up to common retracement levels .500, .618, .786 and even beyond to new highs. While it could continue, this asset is very volatile, be sure to take profits at target levels.
Carvana breakoutWith hindsight, it wasn't wise to buy NYSE:CVNA 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 NYSE:CVNA but there might be a resistance near $56.
CNVA long termThey say every 2.5x10week candle impulse may correct and every break out consolidation will result in 2.5x10week impulse.
Looking thru stocks , CVNA have a lofty target of 200+ where the red box is based on 6 months TF.
Wowww!!
My opinion.
Inverse head and shoulder pattern - CVNAThis inverse head and shoulder pattern gives a clear techical sign that CVNA might get near 100 USD soon
CVNA: Classic
It seems CVNA has formed a giant cup and handle.
In this case, the target can be around $90. WOW!
$CVNA CVNA has just made an inverse head and shoulders pattern, hopefully we get a pullback before a further move to the upside.
$CVNA 5th Wave Incoming?$CVNA:1D
Signal has almost completed the 4th wave down. I’ll be looking to see whether the 5th wave to the upside takes form. 5th waves are wiley and they fail all the time so it’s possible the local low is not in yet. Price coming off of its lowest point on the RSI YTD and is now coming out of oversold on our 1D RSI.
The ‘model moat’ on NYSE:CVNA is very thin but in this case focusing solely on the model moat obscures the ‘experiential moat’ that customers ‘associate in’ with $CVNA. In other words, even though the model is highly replicable, the experience the product provides to its customers is not easy to replicate and has earned consumer trust and confidence in a way competitors in the used automotive retail space have failed to do so far.
NYSE:CVNA is still down more than 90% from its 2021 highs and used car sales revenues might be better protected in a recessionary environment than new car sales. Another factor to consider is the limitations placed on the EV market by the ‘graphite’ supply constraints and the effect deteriorating trade relations with China might have on the price of graphite. The graphite supply constraints in conjunction with problems scaling EV’s across our decaying electrical grid here in the U.S. could place a ‘hard bid’ on used, gas powered vehicles in the near term until both the functionality and costs surrounding the scaling of the EV market become more feasible. The vast majority of the cars sold by NYSE:CVNA are used, more gas powered and cheaper than new cars sold by dealerships. I expect NYSE:CVNA to retest the 0.5 Retrace (38.89) before year’s end and possibly sooner.
NOT FINANCIAL ADVICE. ALL STOCKS CAN GO TO ZERO.
CVNA Analysis - Cup and HandleSubject: Cup and Handle Formation
Based on my charting analysis it's evident that a cup and handle pattern has formed on CVNA. This is highlighted by the lime green lines on the chart. The RSI and Volume indicators show a progressing upward trend to break through established resistance at $36.63. This resistance level was re-established by a retest on 11/15/23 notated on the chart. I believe the price will continue to consolidate and possibly retest support at the identified $24.98 level. This support level is strengthened historically by past support levels in 2022. The price is also consolidating at the 200 day moving average (highlighted purple) while it's beginning to approach the 50 day moving average (highlighted light blue).
I'm forecasting that the price will continue to consolidate and possibly retest support down at the $20.50 level. This could become even more possible after Amazon announced it will be launching online vehicle sales. My key level of entry will be above $37 for true confirmation on the bullish uptrend. Should the price drop below key support at $20.50 I will look to the downside and target the $10 mark. I will continue to update as time progresses.
CVNA visual of potential swing trade (options or commons) 1 hourlower timeframe for full analysis - the original idea + targets indicated
Negative divergence on the daily stochasticI have a feeling the chop zone is going to end by Monday. The negative divergence on the daily stochastic suggested it will break down not up. First target is 28. Second is 26 for gap fills
short term swing plantesting the Mando model with ICT concepts on CVNA - no position just observing - assumption next draw on liquidity is around 57
