Over the last three days, A.I.dvisor has detected that CVNA's AroonUp green line (see chart) is above 70, while the AroonDown red line is below 30. When the green line goes above 70 while the red line stays below 30, this is an indicator that the stock could be poised for a strong Uptrend. For traders, this could mean going long the stock or exploring call options in the next month. A.I.dvisor backtested this indicator and found 242 similar cases, 210 of which were successful. Based on this data, the odds of success are 87%. Current price $260.38 is above $227.36 the highest resistance line found by A.I. Throughout the month of 11/05/20 - 12/08/20, the price experienced a +28% Uptrend. During the week of 12/01/20 - 12/08/20, the stock enjoyed a +4% Uptrend growth.
Bullish Trend Analysis
The Momentum Indicator moved above the 0 level on November 11, 2020. You may want to consider a long position or call options on CVNA as a result. In 44 of 51 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are 86%.
The Moving Average Convergence Divergence (MACD) for CVNA just turned positive on November 11, 2020. Looking at past instances where CVNA's MACD turned positive, the stock continued to rise in 26 of 29 cases over the following month. The odds of a continued upward trend are 90%.
CVNA moved above its 50-day Moving Average on November 11, 2020 date and that indicates a change from a downward trend to an upward trend.
Following a +7.51% 3-day Advance, the price is estimated to grow further. Considering data from situations where CVNA advanced for three days, in 224 of 249 cases, the price rose further within the following month. The odds of a continued upward trend are 90%.
CVNA may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
The Aroon Indicator entered an Uptrend today. In 210 of 242 cases where CVNA Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are 87%.
Bullish Trend Analysis
The Momentum Indicator moved above the 0 level on November 11, 2020. You may want to consider a long position or call options on CVNA as a result. In 44 of 51 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are 86%.
The Moving Average Convergence Divergence (MACD) for CVNA just turned positive on November 11, 2020. Looking at past instances where CVNA's MACD turned positive, the stock continued to rise in 26 of 29 cases over the following month. The odds of a continued upward trend are 90%.
CVNA moved above its 50-day Moving Average on November 11, 2020 date and that indicates a change from a downward trend to an upward trend.
Following a +7.51% 3-day Advance, the price is estimated to grow further. Considering data from situations where CVNA advanced for three days, in 224 of 249 cases, the price rose further within the following month. The odds of a continued upward trend are 90%.
CVNA may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
The Aroon Indicator entered an Uptrend today. In 210 of 242 cases where CVNA Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are 87%.