Carvana is setting up for quite the run. Despite seeing a quick increase in price from $15 a share all the way to $26, this Elliot wave count presents a sizeable 3rd wave extension.
Right Now
It looks like we've completed a minute 3rd wave extension, price is looking to move in a serious pullback. The $15.20 range is a big aggressive! If bulls are impatient or a short squeeze is primed, the minute c wave may barely past the a wave.
Ahead?
We need to see more price action before getting more specific price targets, but in the short term (next 2 months) I am eyeing the $30-32 price range before our next major pullback.
Right Now
It looks like we've completed a minute 3rd wave extension, price is looking to move in a serious pullback. The $15.20 range is a big aggressive! If bulls are impatient or a short squeeze is primed, the minute c wave may barely past the a wave.
Ahead?
We need to see more price action before getting more specific price targets, but in the short term (next 2 months) I am eyeing the $30-32 price range before our next major pullback.
Comment:
CVNA is proceeding as planned. No necessary changes needed at the moment.
