Contextual immersion trading strategy idea.
CarGurus, Inc. operates an online automotive marketplace connecting buyers and sellers of new and used cars
The demand for shares of the company looks higher than the supply.
These and other conditions can cause a rise in the share price in the next days.
So I opened a long position from $22,93;
I do not have enough history for both weekly and monthly charts to see if there is previous S/R, the stock may want to bounce off.
However, we have an ascending triangle forming in the daily chart and we can notice a relatively strong volume bar at a level below the anticipated breakout.
The only way to go long is to wait for a clear breakout and to wait for a...
Weekly Candles showing tweezer double bottom at entry for 5-0 pattern Backtesting Resistance as support.
MACD divergence and developing RSI divergence. First target is C point then measured move of Eve & Adam DB
Pattern can hit the .618 (currently at .50)
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CARG has reached old resistance, on a run-up that is now overbought. To far to fast, i'm looking for it to bounce off its prior resistance level back to $36-37 range. As i believe there is oversupply at these levels.
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.
The momentum in the “Bullish Harami” pattern extends, Breakout above the short-term downtrend line implies strong momentum, Positive view by the Moving Average indicator, MACD’s buy signal, The 14-day RSI indicator shows an encouraging bullish bias above 50 pts: Expect more buying activities.
(Disclaimer: All the information are mean for educational and...
Cars recorded top- and bottom-line beats in its Tuesday earnings report. That, combined with confident annual guidance, inspired a pair of upgrades.
RBC Capital Markets analysts Mark Mahaney and Shweta Khajuria upgraded CarGurus to Outperform and raised their target from $37 to $55.
JMP Securities analyst Ronald Josey upgraded to Market Outperform and established...
When story says SELL/Bearish then write PUT options or sell stocks. Looks like $32.00 is 1st support line on chart, because INSIDERS bought 9,400,000 shares at an initial price of $16.00. There will be a lot of selling starting on 4/10/18, which will continue for a few months. These insiders made 100% return, which is a great investment for anyone.