Did you know Carvana is up 15X?! OMG :)Look what we have here.
Incredible price action from this stock..
what should you do if you hold it...
or if you are feeling #FOMO
maybe this idea will help.
Inverse Head and shoulders there for all to see.
CVNA trade ideas
$CVNA - back to $104 rangeRejected off the fib as it did on the last time it was in this range. Last time it fell hard. Only PR out is "tax credits" which is hilariously non-relevant to the company. They just sell the car that gets a tax credit. How is that even CVNA pr?
Chart techs say "bullish" butttttt macd reversal, stochastic reversal, and rejection on the convergence channel show this thing go back ot 104 in the next 2 months before the next leg up.
not trade advice
CVNA IDEATESTED 129 and failed last week. it dropped and retested 125 and was saved by the bell friday onto a possible reversal to test highs in the upper 130s. Its still not out the clear though. needs to hold this 126 level or it could drop all the way back down to mid teens. Tomorrow will tell. Any sign of strength towards 129 will be a good opportunity to grab calls expiring august in the 132-136 range. Waiting for confirmation tomorrow....
Carvana getting ready for parabolic upswing?CVNA showing a nice wave/stairstep pattern pushing up, and now we have a super nice flag pattern. Would not be surprised to see this wave turn into a very strong and fast move up from here over the next few months.
$CVNA $155.90 on horizon?NYSE:CVNA Macd almost flat on weekly. It's entering the volume gap here. Also RSI and William% range is giving bullish divergence. First pt is $155.90 and second pt is $220.00. This targets are based on weekly TF.
Update from June 10th - Cleaner View | $CVNA SHORTBack on June 10th I published NYSE:CVNA short.
Still looking for the short, but wanted to provide a cleaner picture.
We are closer to the break and the economic headwinds are getting stronger.
Car vending machines, huh?
COUNTERTREND SHORT TRADE IDEAWith the clear structure forecast, there is a pretty clear path for a meaningful wave four pullback. Per pinball theory and option flow, we should be targeting the $100 zone, which is an excellent round number that market will likely gravitate to.
THE EASIEST WAY TO SELL YOUR CAR AND MAKE MONEYAnalyzing 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.
This looks very 2-sidedThe RSI needs room to run, and the MACD is curving. The BB is squeezing; I've never seen a squeeze like this. I'm pretty sure we see 135 at this point, but it may require some reset. I pointed this out before consolidation after a run or a correction after a more extensive run neither ruling out the possibility of a significant squeeze nor a minor retrieve.
CVNA, 2024-06-18, ShortContext:
Weekly - Resistance Zone @116.71/134.68
Daily - Trend line breaks @ 2 points; Retracement back to "First Red"
1h - CHOCH structure with "Last Bar" as entry/stop range (2x ATR (near term) rounded as stop buffer)
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Main Target - Weekly Support Zone @ 87.58
Breakeven stop @ 97.85
2/3s Out @ 97.85 (Fib ext 0..618)
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Expected R (at full) 3.64
$CVNACVNA looking to retest 128 area or higher, weekly chart is beautiful, definitely in my watchlist this week.
CVNA continuationCVNA is looking like a solid continuation setup. Strong earnings gap, then pullback to trend seems to be a pattern with this name similar to the other circled areas.
115 MAYBE GOING SIDEWAYSIt seems to be headed towards another resistance hotspot of 115, but it can do much damage for shorts. However, it's too early for a permanent continuation at this point. Expecting a reprieve of 100.
$CVNA Short | “car vending machines”I may return to this to add some additional insight / commentary.
Short Carvana. The rupturing of the “Yellowstone Bubble” will not be kind to “car vending machines”
CVNA Big Bullish PotentialHey guys!
Found a setup I happen to really like that Carvana NYSE:CVNA has been forming this past few months. I generally would stay away from a company/stock like Carvana, as potentially bankrupt-bound companies are not what I like to trade. But I couldn't help but realize the Cup & Handle being formed on the weekly chart currently. Below are some highlights of what I find attractive in the technical layout of this setup:
- Weekly Inverse Head & Shoulders / Cup & Handle
- Momentum is leaning bullish (TTM_SQUEEZE)
- Bought up from $20 demand zone
- Daily Chart has ema cloud bounce
- Decent Volume Accumulation
Limits to this / confirmation needed:
- Weekly ema cloud testing key area
- Monthly Ema Cloud key level as well
Closing Notes: I do believe that this technical setup is very strong. I also like that not many of the fundamentals & catalysts will likely play into this as Q3 Earnings just reported. This ER also swung a profit in EPS, and sent a pop in the stock adding to some positive sentiment surrounding NYSE:CVNA
Overall I am looking to go long on a bullish retest of some sort and wanted to share a setup I have not seen in a while!
Inverse Head and Shoulders for CVNARSI is high at 65.90 and beginning to touch the support line. If it breaks through we have plenty of upside. It is bullish trading above the 200 moving average. The MACD has crossed and we have earnings on Feb. 22. If the earnings are good, this could potentially continue to move higher like in the past. the volume is 6 million. Looking the white lines for taking profits. Stop loss at the 20 day EMA.
Simply a matter of time....Carvana´s financials does not seem to last. on top of that, their business model is quiet stupid. The rally they have had the last years time has been unheard of looking at the financials, and i think buying out of the money put options or simply shorting Carvana is a good bet within the next couple of years. It can happen this year or the year after.. but simply, its a matter of time..
CVNA - What we need to see for a long scalpWe've been rocking the shorts on CVNA for the past week and we're looking to catch the rebound however big or small it is.
Definitely a shorter term long play until we prove more on the HTF and especially with this juicy gap that we're currently filling
Happy Trading :)
CVNA looks ready to breakdown. What a thing of beauty. Talk about all the bullish momentum going to hell. What can you say, its been a heck of a run. I don't even think a SL is gonna be necessary here, but Friday's high seem ok. I won't wait that long though, ill probably just buy back if it can grab hold of the UTL and pass a retest, or get far enough away from my buffer. Im shorting on the open as long as it hasn't gapped down too much. If it has ill wait for some kind of retest.
CVNA: Critical phaseHi,
looks like if CVNA breaks $60.5 and end the week above $60.5 it has all the chances to go to $90.
Beware it's RSI is already too high.
Break and confirmation is important.
Cheers,
Happy trading
CVNA TOP?Always hard to call the top. Carvana had a ridiculous move on questionable earnings but a nice one nonetheless. It is inside a nice upward channel hitting the very top as well as a measured move from a cup and handle is exactly at that point. We'll see whats next.
CVNA Macro ProjectionMacro Analysis for Carvana (CVNA)
Projection:
Based on a comprehensive analysis of pattern and cycle analysis, I anticipate a significant retracement in Carvana's stock price over the next 6 months. This retracement is projected to amount to approximately -50% from its current valuation.
Technical Analysis:
Technical indicators corroborate the assessment of overbought conditions and the emergence of a liquidity zone. Additionally, Indicators such as Spots , Changes and Levels align with the projected retracement targets.
Pattern Analysis:
Historical pattern analysis reveals similarities between Carvana's current price movement and previous instances where other securities in the form of fractals or 1-1 matching reached similar levels. The recurrence of such patterns lends credibility to the projection of a retracement.
Targets:
First Target ($75 Range) (0-3 months): The initial target for Carvana's retracement lies within the $75 range.
Second Target ($50 Range) (3-6 months): A secondary target is identified within the $50 range, signifying a deeper retracement and potential consolidation phase.
