putting the macro economic picture aside, CVNA appears to be topping out around $100 given previous gap/resistance and 5 wave corrective impulse completion.
Contextual immersion trading strategy idea.
Carvana Co. operates an e-commerce platform for buying and selling used cars in the United States.
The demand for shares of the company looks higher than the supply.
This and other conditions can cause a rise in the share price in the next days.
So I opened a long position from $74,60;
stop-loss —...
Hi, I've taken my time to look into this graph, I see a quite clear willingness to bounce off of 200 MA daily, and could be a stop loss for an entrance with a less tight stop than the ones plotted on the graph.
I see the stock as being on a 3rd wave of its bigger 3rd wave, which should be great, hence my optimism.
I also believe it might go quickly from this spot...
Opened a position in this today when it broke the triangle. It did pull back in, I may have jumped the gun as this could be a false break-out. It is a nice pattern and did get an upgrade today with a $120 price target. I'm in at $96.02 still in the money. My stop is $90 and first target is a measured move to $112 then hopefully to $120 upgraded target. Ideas, not...
OK....THIS POSSESSED STOCK BOUNCED LAST TIME IT TRIED TO DUMP BUT THAT GAVE US REAL NICE BEARISH DIVERGENCE / DOUBLE TOP SETUP. NICE SELL SIDE ACTION ON FIRST DAY.
CVNA retested its $85 support level and remounted to continue further upside. It has also been creating higher highs and higher lows forming an Elliot wave pattern. This looks like its on its last leg of the Elliot wave after completing its correction. Looking for it to at least test its highs at the $96 level as an initial target. With a finishing target of...
Watch this closely, it's a perfect pattern. The round bottoms are the best because they are less volatile, and last longer than V bottoms, shaking out weak hands. Keep an eye on the cup line and volume for a breakout.
