CARVANA - BottomingLet's see if it bottoms here and reverses up in the next week.
Looking for $30 prior to August earnings on a reversal.
$CVNA
This is not trading advice
CVNA trade ideas
CARVANA - RSI 30RSI has been hovering flatly around 30 since April '22.
Breakout incoming! NYSE:CVNA
Good luck everyone
- C
This is not financial advice
$CVNA Quick Double - Best Case ScenarioCarvana stock is more hammered than a freshman in college trying to rush a fraternity.
Is there more downside potential in the short-medium term? Absolutely. But, there's currently a hollow green candle on the monthly chart and the daily chart is showing some signs of possible reversal (yes, I'm writing this after a 12% down day).
Trade plan - buying shares and looking for 25-50% upside in the next several weeks prior to an earnings report that could do further damage to the stock price unless there's a positive suprise or some sort of good news (not sure what that could honestly be).
30+% of short interest is another factor why we could see a quick uptick prior to earnings in the case that shorts cover prior to earnings.
Bought: $22
Target range to sell: $30-35
Good luck people!
- C
As always, this is not advice just tracking my personal trade.
CVNA Carvana Co Long term bullish viewCVNA Was trading at $100 range pre-covid and now trading at $20. Major double bottom is vissble in the chart. At the very least I see it claiming high $40 range in couple of months or more.
I don't deny that it has a chance to tag $10 and then start to rip.
Used Car Market is Stronger than This Chart - CVNA going upReasons to buy stock, open bullish spread, or long swing calls:
> RSI and stochastic both beginning to turn up with short term line crossing over longer term line.
> Yellow line shows first target to 64, which is more than double current stock price.
> Price is far from 20sma and due for mean reversion.
> Over the next few months, if warranted, price could go 3x or 4x higher into the upper yellow bands, 80-100 and 125-145.
> Company's Chief Product Officer made a huge purchase in June.
> Used car sales have been relatively strong due to demand from car rental companies.
> Risk is low if you buy under $30 (ideally under $28), with unusually high reward.
Carvana Bounced Heavily Off Fibonacci LevelAs I predicted, Carvana's price bounced off of the Fibonacci retracement level. One important thing to note is that Carvana has never bounced more sharply off of a Fibonacci level as it just did. This gives a strong indication that this Fibonacci level may have marked a significant bottom. While price may try to retest the level or oscillate downward to consolidate, the underlying currents in the broader market are bullish. While I don't give financial advice, if I were shorting CVNA, I would definitely be taking profit and closing my position. This is a very bullish signal.
See my post here from three weeks ago:
Not financial advice. As always, anything can happen.
Buying Opportunity: Carvana (CVNA)This analysis is fairly straightforward. Carvana (CVNA) is nearly fully retraced. Momentum downward is slowing, multiple indicators are showing a bottoming pattern, and open interest in calls is increasing. Although the price can still fall another 10-20% to the low, it's likely that a bottom is near. This is an obvious choice for long-term investors who want to enter at the bottom to go long. Be aware that this is a monthly chart and reversals can take time. Conservative investors may wish to wait until a bullish monthly or weekly candle forms before entering to go long.
Not financial advice.
CVNA now that the FUD has settled down. everything becoming more autonomous. Less workforce required to be paid. it's simple next earnings will be positive.
Not a financial Advice. I just like to draw lines on my charts.
CVNA Support Line HitAn analysis for CVNA, I have included some up channels and different price structural patterns
A big takeaway however is the strong support line that has been hit (solid line)
This is a basis for a long position
CVNA strongest supportHow beautiful this chart looks like!
CVNA has dropped to a pre-pandemic level at its strongest support.
Yesterday`s 19.3K Calls suggest a recovery to the $160 resistance area!
Looking forward to read your opinion about it.
$CVNA with a Bullish outlook following its earnings #Stocks The PEAD projected a Bullish outlook for $CVNA after a Positive Under reaction following its earnings release placing the stock in drift A.
Carvana (NYSE: $CVNA) Starting To Look Interesting! 🚗Carvana Co., together with its subsidiaries, operates an e-commerce platform for buying and selling used cars in the United States. The company's platform allows customers to research and identify a vehicle; inspect it using company's 360-degree vehicle imaging technology; obtain financing and warranty coverage; purchase the vehicle; and schedule delivery or pick-up from their desktop or mobile devices. Carvana Co. was founded in 2012 and is headquartered in Tempe, Arizona.
CVNA PUTS!!!-DOJI CANDLE ON THE DAILY meaning whichever way we break we are more than likely to have an explosive move towards either direction
-We closed slightly BELOW BUT still need confirmation
$CVNA Trading it 3/31below 125
117-120 possible intraday
idea only valid if market red/negative 2morrow
#optionstrading #options #daytrading #tradeideas #stockmarket
CVNA LONGAn upside breakout from a Continuation Wedge was confirmed. After a temporary interruption, the prior uptrend is set to continue. The pattern formed over 16 hours and 0 minutes, which is a rough guide for how long it might take to reach the target price of 142.0 - 151.0.
A competitor - not a Zero to One - bad idea gone terribly wrongPeter Thiel characteized companies as competitors or originators. As a founder of Paypal - a small space that was blank into a large enterprise - he influenced my investment awareness. Carvana is a company that has a different way of trying to sell cars. It is a competitor not in an original space like Facebook as a startup or Google. Carvana isn't working. Investment bankers can sell more stock to institutions as prices rise if - big if - sales are increasing. Now that capital has been raised at high prices there is little or no chance that CVNA can raise more capital in a money losing enterprise. This is how innovative startups in biotech raise money on the come.
The game is over for CVNA. If this was such a great idea why is it losing money every quarter? It is a pumpkin truck business. A man buys a truck and takes pumpkins to market. He gets home and tallys a $1000 loss. when asked about the problem he says he needs more trucks. To wit - will more sales be more losses? Of course it will be more losses. With more cars sold each quarter - rising sales figures in rising markets = more stock sold to the institutions. Not so in declining markets. As the Oracle of Omaha once famouisly said - when the tide goes out we see who is swimming without trunks. Translation - the tide is a declining market. The nakadidity - to quote Radar O'Reilly - is continuing losses with no pivot in sight.
The insiders have seen their values decline as their take out in terms of shares have risen. Watch for risinging insider sale of stock - rats deserting the sinking ship so to speak. This is a competitor in the used car sales business. The local grocery store can deliver your groceries via Dash - another short but don't get me started there either. What to do?
I sell the 30 delta call vertical 45 days to expiiration with a $15 wide strike. I have been able to roll these wide strike call verticals almost weekly.
Innovative but Bad competitor - More sales will not generate a profit.
Pumpkin truck business. Let the declining stock price be your guide. Look at the financials. Cash flow has been from sale of stock and not from earning. Look at the retained earnings losses. More capital will not fix this.
I sell wide strike call verticals the roll them down..
A profitable short.
CVNA - When Its Time To Buy You Won'tTitle is not advice btw just psychology of markets.
CVNA looks fairly deep here with low down 71% and having diverged up from RSI @ 21 - lowest ever reading, even much lower than 2020 lows that only hit 30.
In addition CVNA pierced through the lowest fib of the GRM indicator and a "DIP" buy signal has appeared for only the 2nd time.
If RSI remains above lower band it looks good for a bounce I think. If price falls below then low then perhaps not.
Not advice.
Stage Analysis In and OutStage analysis enter position and exit position for CDNA - 30 wk and 50 wk trendiness
$CVNA - car prices and inflationRising price of new and used cars making significant contribution to recent headline inflation numbers.
Carvana down 60% from all time high posted in August 2021.
Opened $CVNA trade 1/14/22 in anticipation of an oversold bounce. Would have preferred to see it trade-up for most the recent week but didn't want to wait.
Tight stop warranted ... and plan to close this trade long before March 1st earnings release.
Also see $LAD
CARVANA Bearish PatternCVNA formed a bearish Shark pattern.
T1 was already achieved and its back in buy zone.
