BBTrader29

CARG Head and Shoulders

Short
NASDAQ:CARG   CarGurus, Inc.
CARG is forming a head and shoulders pattern on its longer term weekly chart, proving it to be even a stronger pattern. I expect a further breakdown beyond the neckline to a modest level of $28.5 where it will reach its original IPO price which by then will be a good time to get out. The RSI index is also creeping into a bearish zone.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.