CVNA: Classic
It seems CVNA has formed a giant cup and handle.
In this case, the target can be around $90. WOW!
CVNA trade ideas
$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
CVNA 3D Q4 2023, Q1 2024 Publishing this CVNA chart, as it's been an interesting one to follow. Above all the moving averages and looking to be retesting previous resistance.
Interested to see how this plays out considering the new, high interest rate environment and the current state of car sales.
From it's 3.60 low to now it's gone through a 10x rise, let's see how it opens 2024.
$CVNA: Is 35 Rejecting?CVNA has had a nice rip from the October lows but I'm wondering if that will fizzle out on the prospect of small cap stocks and retail names pulling back. May be short term but we'll need to see how things play out.
$CVNA - short before upward movementNYSE:CVNA has a good potential in the nearest feature, but it needs for correction.
29-31 is a layers to be ready to buy.
Does not constitute a recommendation.
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CVNA Carvana Options Ahead of EarningsIf you haven`t bought CVNA here:
Then analyzing the options chain and the chart patterns of CVNA Carvana prior to the earnings report this week,
I would consider purchasing the 25usd strike price in the money Calls with
an expiration date of 2023-11-17,
for a premium of approximately $3.95.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Looking forward to read your opinion about it.
CVNA Shortsqeeze stockUpDating:
This is possible. Any idea please share it ?
Big hedgefond still holding CVNA in portfolio.
2 minutes ago
Comment:
We need a Big Green candle for positive sign for reversal.
Also it's look FLAG Pattern.
CVNALONG-TERM: Larger potential cup and handle, classic bullish divergence, falling wedge. (not financial advice)
$CVNA - looking good to reshortNYSE:CVNA
RSI getting high and momentum peaking as it approaches 52.50.
Short at 52.50 - 53.00 with duration of 3-4 weeks for options
$CVNA: Back up to 50?We'll see if CVNA can get an oversold bounce at least up into 50 or maybe more, we'll see
Are we forming a Bull Flag in Carvana?Hi guys! This is a quick analysis on my opinions on a current chart pattern that may be playing out in Carvana (CVNA).
At first glance you can notice the formation of a Bull Flag on the 1 Week CVNA chart.
As you can see we have had our Sharp price move to the Upside, almost resembling a straight line up. This is known as the Flagpole. The Volume spike seen in this move is supportive of this phase.
Followed by a pause or sideways action resembling a parallelogram. Here we see diminishing Volume, which is supportive of this phase as well.
This pause is to consolidate/ take a break from such a massive uptick in price during formation of the flagpole.
Flag patterns are known to be one of the most reliable continuation patterns and are said to rarely lead to Reversal of Trend.
Currently we are in the process, on our current Daily Candle of trying to breakout.
But we are meeting with Serious Resistance, depicted by a MASSIVE Upper Wick. Ideally, i'd like to see a larger body at the close of today's candle.
Could this still lead to a break out? Well one thing to check is the VOLUME.
For a breakout to occur we need to see a Massive Spike in VOLUME.
Which we have not seen yet.
Could be warning for a test back down to the lower rim of the parallelogram. This would also lengthen the time spent in forming this pattern.
Also note that Flag patterns are normally short term patterns and shuold breakout within 1 to 3 weeks, as per theory.
We are currently 8 bars in on the weekly chart indicating 8 weeks of consolidation.
This is Not Textbook. Which has me second guessing if this is a Bull Flag.
We have so much Resistance Above us, and the massive sharp move from $3, didnt create strong market structure. This in my opinion could lead to a collapse of current move with a massive correction.
Continue to monitor this. Remember to trade a Bull Flag:
You must wait for a breakout with CONFIRMATION before you take positions.
I would personally not take a trade inside the pattern. Watch for signs of rejection here as well.
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Thank you for taking the time to read my analysis. Hope it helped keep you informed. Please do support my ideas by boosting, following me and commenting. Thanks again.
Stay tuned for more updates on CVNA in the near future.
If you have any questions, do reach out. Thank you again.
DISCLAIMER: This is not financial advice, i am not a financial advisor. The thoughts expressed in the posts are my opinion and for educational purposes. Do not use my ideas for the basis of your trading strategy, make sure to work out your own strategy and when trading always spend majority of your time on risk management strategy.
W PatternPossible Bearish Shark.
Valley 2 is lower then valley 1.
Short interest is over 45%!!!!!
No recommendation.
CVNA breakout continuation potentialHello,
It has been a very long time since I posted and I have started to go from an institutional style to adopting some Qullamaggie's breakout style. I still do longer-term trades as well.
This stock is breaking out from a range, not at tight as I'd want and not with as much volume as I would like but I am betting on previous momentum to help the trade work.
Monitoring bearish sentimentOn my short watch for a few reasons:
needs to breakout above $58
potential quadruple top
AD/Money Flow showing bearish divergence w/ stealth bear flag (yellow circle)
previous money flow/AD from July 2022 is currently acting as resistances.
I have no position, currently monitoring the bearish sentiment.. I need to go to the lower time frames 15min/30min possibly 5min chart to review intraday support/resistances level to see if the short is there for entry other than the weekly.. not trading or financial advice, please do your own due diligence
CVNA Inverse Head and ShouldersBig move to the upside today on high volume. Marking this for my own research. Current time: 2:35 pm (1.5H to market close)
Momentum needs to carry through into tomorrow and break the resistance between $55-58.
