Trading Idea
1) Find a FIBO slingshot
2) Check FIBO 61.80% level
3) Entry Point > 19.4/61.80%
Chart time frame : B
A) 15 min(1W-3M)
B) 1 hr(3M-6M)
C) 4 hr(6M-1year)
D) 1 day(1-3years)
Stock progress : A
A) Keep rising over 61.80% resistance
B) 61.80% resistance
C) Hit the bottom
D) Hit the top
Stocks rise as they rise from support and fall from resistance....
$CARG bouncing off its VWAP from Q3 ER to rising 10&20MA. it underwent 6 consecutive days of low volume retracement after rallying +43.96% post Q4 ER to fantastic YoY growth numbers (EPS +34%, Sales +124%)
the last significant VWAP to reclaim is from Q4 ER at $43.05
New and Used Care Markets keep being strong, with very high prices due to supply-chain issues.
With the continuation of Omicron possible focus (again) on individual holidays/camping etc. – Buy-time for caravans etc. usually Winter/Spring
NASDAQ:CARG ,
Crab Harmonic Pattern
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Short Between 41.43 - 42.53
Buy Back @ Target 1 : 38.00, Target 2: 39.75
Stop Loss @ 43.50
DISCLAIMER:
I am not a financial /investment advisor. All information I am sharing here is for entertainment purposes only and should not be considered personal investment advice.
While...
$CARG broke out of the Weekly box a few weeks ago. It has now re-tested the break-out area, probably because of general market weakness. It is preforming well here so I'll take a chance to go long with a stop just below today's low. It either gets going or I'm out with a small loss. Relevant notes on chart for trade. Ideas, not investing / trading advice.
CarGurus is a Cambridge, Massachusetts-based automotive research and shopping website that assists users in comparing local listings for used and new cars, and contacting sellers. CarGurus is pronounced as a single word, rhyming with 'kangaroos'
Recently reported earnings where we saw numbers coming in above expectations, creating a 'Power Earnings Gap (PEG)' on elevated volume as well as a post-earnings flag formation being developed.
Looking for the next leg higher:
Buy stop: $28.85 (trigger)
Stop-loss: 27.00
Target range: $31.60-$32.15
Last Close: $28.22
Consolidating its 20% burst gain very nicely. Path of least resistance is for a 2nd burst higher from here. Look back at December of last year for similar setup.
Cargurus Inc Cl A (CARG)- PROVIDES ONLINE AUTOMOTIVE MARKETPLACE CONNECTING BUYERS AND SELLERS OF NEW AND USED CARS
Description: CARG is trending higher and in an uptrend meaning that highs are getting higher and lows are getting higher. The uptrend line on the chart and the Trending Band Indicator (which measures trend) supports the Long Position.
Stats:
1. Ideal buy range: $28.4 - $29.5
2. Take profit: $34.68
3. Stop Loss: $27.25
4. Risk To Reward: 1 / 6
5. Accuracy Rating: 89%
After another touch on the lower channel of the bearish wedge, CARG stock price bounces upside. Is the stock now ready to re-test the upper channel? Some important levels to note for sellers participation include 29.20 & 34.00
N.B
- Let emotions and sentiments work for you
-ALWAYS Use Proper Risk Management In Your Trades
