CARVANA $CVNA | RANGE BREAKOUT BEFORE EARNINGS - Apr. 23rd,CARVANA NYSE:CVNA | RANGE BREAKOUT BEFORE EARNINGS - Apr. 23rd, 2024
BUY/LONG ZONE (GREEN): $72.50 - $81.25
DO NOT TRADE/DNT ZONE (WHITE): $68.50 - $72.50
SELL/SHORT ZONE (RED): $60.00 - $68.50
Weekly: DNT
Daily: DNT
4H: DNT, lean bullish
This was requested at the end of last week but I didn't get around to it. I drew up this NYSE:CVNA chart analysis yesterday as I was entering a new trade, but wanted to wait until today to post it. I did not adjust the zones and kept them as they were yesterday, even though today price has already broken into the bullish zone, there is still room to enter new trades to the upside, or if bears want to take on some extra risk they could enter extremely early here if they expect a pullback. Earnings release next Wednesday, May 1st, 2024, and I'm looking to take advantage of possible volatility. NYSE:CVNA has broken down structure on the weekly timeframe, developed bearish structure on the daily (which is now broken as of today), and had a defined range on the 4H (which was also broken as of today).
Previous NYSE:CVNA trade idea is linked below!
This is what I would personally look at before entering trades, everything is subject to change on a daily basis and as I analyze different timeframes and ideas.
ENTERTAINMENT PURPOSES ONLY, NOT FINANCIAL ADVICE!
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