Chart is bullish but trade with caution does show some weakness.
arvana Co. is a holding company and an eCommerce platform, which engages in the buying of used cars and provision of different and convenient car buying experience. It operates through the following segments: Vehicle Sales; Wholesale Vehicle Sales; and Other Sales and Revenue. The Vehicle Sales...
CVNA in the past two trading days has formed harmani doji reversal pattern paired with an ascending triangle as it leads up into resistance at the $68. It has tested this level 3 times already, giving it more momentum to breakout in the coming days.
Putting on a Bear Call Spread.
$1.44 Profit/ Loss $3.66
Max loss is $144. Profit target is $72
It looks like a false breakout and moving sideways.
Market is going to get interesting as G20 meeting next week.
I'm betting it'll be a letdown.
CVNA is still a bearish position for me I plan to put in a 70/75 Bear Put Spread as it seems to be continuing sideways I felt my 60/65 spread was too close and I took a loss on it. In the end it may still have been a fine position I could have over reacted out of fear.
I plan to put on this trade $70 profit max loss is $430 I will buy 2 spreads
$140 max and...
Wedge from last year broke bullish, now looks to be forming cup and handle. Very shallow consolidation during last months pull back, bullish divergence. Up 5% today, looks like it wants to push higher.
CVNA is slowly losing momentum. Recently released a debt issuance and it dropped its after hours trading lower to around $64.
CVNA could lose steam and change direction like it has in the past. I write a call at $45 and buy a call at $70 expiry is August 16th.
45/70 Credit Spread EXP AUG 16. $1570/930 Risk (May change after I put on trade)
Target exit is...
Adding a small Bear call spread on cvna, RSI bearish divergence major market volatility is increasing with tariffs and it's Double top.
70/75 exp June 21
Journal entry and not trading advice
As earnings approach the options market has been very active in CARVANA. Noteworthy activity has been on the put side with unusual activity for the $35 and $45 strike puts. We do not hold the name but in the current market it would be wise to bank profits when the stock has the possibility if a double top forming. Give the fact that the price is well above the...
Afterall this name has huge shorts in it (56%) and also this is sitting at Double Top. Few key indicators to keep in mind:
1. Has been at Overbough situation for last 60 days.
2. They have not yet penetrated into bigger mkt yet and the potential is huge.
3. Negative divergence.
You decide. I know what I am playing.
I think CVNA is going to blow off some of these gains because Cramer noticed it and talked about it.
This is where we can test the Power of (very entertaining) Television Personalities.
I heard Cramer explain that this stock has no reason to be on such an upward tear. When I got home, I checked the charts. Indeed... there's no arguement. It's jammin. But why?...
Carvana Co. is an e-commerce platform for buying used cars. On the Company’s platform, consumers can research and identify a vehicle, inspect it using its proprietary 360-degree vehicle imaging technology, obtain financing and warranty coverage, purchase the vehicle and schedule delivery or pick-up, all from their desktop or mobile devices. The Company’s transaction technologies and online platform transform a traditionally time consuming process by allowing customers to secure financing, complete a purchase and schedule delivery online.
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CVNA
