CVNA has broken out of a downtrend that started in mid September. It is also testing the resistance line of a rounding bottom that started forming in early December. I went long near the closing price of the breakout day based on break of downtrend. This trade would be considered premature in terms of the rounding bottom thesis but I may add to my position if...
I missed this, since it wasn't even on my watchlist just noticed in today scan. Sometimes I feel weekends slow me down, but they can be helpful.
Set up is so nice in this, and looks set to continue so still a buy.
I hope this doesn't happen but keep an eye for the right shoulder.
The CEO, Garcia has also been doing a lot of selling since September. He stopped the selling since Oct 17th. Let's see if the pressure been lift off.
$CVNA Carvana Bullish Ascending Triangle. Buy signal will be strong break through $56 resistance. They had me at car vending machines.
Targeting $60-$62 range near term
Short term i see this stock consolidate a bit, we are way oversold. But this stock is not done going up, carvana is a real business disruptor.
Conservative price target for this stock is 50 dollar per share.
In best case scenario, you could see this stock soar to 3 digits.
