My attention was drawn to CVNA as a possible long trade last year due to extreme pessimism around it on social media. I seen about 20 people calling for it to go bankrupt in the same day.
I often find when this happens it's worth having a look for TA patterns suggesting a "Fade the obvious" type of trade. Which CVNA had and has worked out really well.
I gave the target area for that as the 100 - 110 zone but it may turn out 90 area was the high for the move.
Looking to try some shorts with stops above the possible head of the pending bearish head and shoulders here so long as it's not invalidated by a gap up.
I often find when this happens it's worth having a look for TA patterns suggesting a "Fade the obvious" type of trade. Which CVNA had and has worked out really well.
I gave the target area for that as the 100 - 110 zone but it may turn out 90 area was the high for the move.
Looking to try some shorts with stops above the possible head of the pending bearish head and shoulders here so long as it's not invalidated by a gap up.
Trade active