CVNA trade ideas
Is Carvana Driving Higher?Carvana has consolidated since last summer, but now it may be driving higher again.
The first pattern on today’s chart is the falling trendline along the peaks of December and January. CVNA pushed through it this week, which may suggest a breakout has begun.
Second, the online car seller bottomed slightly above a December weekly close of $40.26. Is that level new support?
Third, the stock has held its 50- and 100-day simple moving averages. That may suggest the longer-term trend is bullish.
Its 8-day exponential moving average (EMA) also crossed above its 21-day EMA. That may suggest the short-term trend is bullish.
Next, tighter readings on Bollinger Band Width may create the potential for price expansion.
Finally, MACD has turned positive.
TradeStation has, for decades, advanced the trading industry, providing access to stocks, options and futures. See our Overview for more.
Important Information
Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures or cryptocurrencies); therefore, you should not invest or risk money that you cannot afford to lose. Online trading is not suitable for all investors. View the document titled Characteristics and Risks of Standardized Options at www.TradeStation.com . Before trading any asset class, customers must read the relevant risk disclosure statements on www.TradeStation.com . System access and trade placement and execution may be delayed or fail due to market volatility and volume, quote delays, system and software errors, Internet traffic, outages and other factors.
Securities and futures trading is offered to self-directed customers by TradeStation Securities, Inc., a broker-dealer registered with the Securities and Exchange Commission (“SEC”) and a futures commission merchant licensed with the Commodity Futures Trading Commission (“CFTC”). TradeStation Securities is a member of the Financial Industry Regulatory Authority, the National Futures Association (“NFA”), and a number of exchanges. TradeStation Crypto, Inc. offers to self-directed investors and traders cryptocurrency brokerage services under federal and state money services business/money-transmitter and similar registrations and licenses.
TradeStation Securities, Inc., TradeStation Crypto, Inc., and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., all operating, and providing products and services, under the TradeStation brand and trademark. TradeStation Crypto, Inc. offers to self-directed investors and traders cryptocurrency brokerage services. It is neither licensed with the SEC or the CFTC nor is it a member of NFA. When applying for, or purchasing, accounts, subscriptions, products and services, it is important that you know which company you will be dealing with. Visit www.TradeStation.com for further important information explaining what this means.
$CVNA: Disruptive Break of 45Carvana may move lower here from the 45-42.5 range as IWM and growth weigh on equities. Showing signficant underperformance and could be exposed to any weakness out of the major indicies.
CVNA - Head & Shoulders Breakout?CVNA might offer another entry today.
Might be a fake breakout first.
But still interesting.
CVNA LongNYSE:CVNA
Looking for small bounce back to 20 ma, maybe continue after but not looking for long/mid
term, take small piece and leave
risk reward in our favor
CVNA:NYSE will reach $130-$135 in 2024NYSE:CVNA CVNA:NYSE will reach $130-$135 in 2024.
Given the market signals outlined below for CARVANA CO. (CVNA:NYSE) on the weekly chart (W1):
1. RSI convergence
2. Gradual narrowing of the price channel
3. Substantial volume observed in bottom fishing
4. Decreased volume during recent corrections
The CVNA stock exhibits indications that suggest a potential attainment of the price range between 130-135 by the year 2024.
Looking bullish on CVNA very soon!
As you can see here we have NYSE:CVNA on the 4 hour chart. We have 4 confluences, we have the 200 MA, support, a demand zone and we are trending upwards on the weekly all showing we shall go up. Now, all I am looking for is a strong green heikin ashi candlestick to break this trendline with valid volume. I would be targeting the nearest supply zone around the 49 dollar area. I do not set an actual TP but I do set a 50% SL. But of course only risk what you are willing to lose and swing trading is very risky. I would look to swing trade this stock to the upside! Thank you as always and please feel free to like, share, and comment on this post! Until next time, God bless.
CVNA Channel Breakout AttemptCVNA is looking to breakout of this downward channel it's been caught in since mid December. It has reclaimed both the 50 and 20 EMAs and is pushing the top end of the channel. With 35% short interest, a bullish Fed decision could send this flying.
CVNAReverse head and shoulder on the reverse head and shoulder. The breakout of the smaller head and should takes us above the neckline of the larger head and shoulder. Strong buy!!!
CVNA Long after completed Fib. RetracementCVNA on a 30 minute chart trended up from November post earnings for 6-7 weeks until
December 20th and then started falling from a head and shoulders pattern at the pivot.
The Fib retracement tool is used to draw the retracement of the prior up trend. The Trend
Based Fib Time is used on that prior up trend to show fib levels across time instead of price.
Price is currently at the 0.5 Fib retracement for price and also at 0.5 for the latter tool.
The other indicators show rising RSI, a flip between positive and negative directional indices
and volatility beyond the running mean. I will take a long trade here targeting 52.3 which is
just under a 0.5 fib retracement of the recent trend down. The stop loss will be set
at 42.8 at the level of the reversal narrow-ranged candles. A option trade will be entertained
for the February monthly expiration.
$CVNA CVNA forming a I&HS continuation , backed by triple digit EPS growth .. Pattern becomes valid 3% above neckline
CVNA Wedge Breakout on DailyCVNA has broken out of a wedge on the daily chart after carving out a nice bottom. 40% short makes this a very appealing squeeze candidate. Let's see how it closes!
Buy ideaI potential Head and Shoulders pattern. Zoom in to smaller timeframes to locate an entry.
Price beaks out of the flag/ corrective channel
Carvana ready to fulfill a true cup & handle breakout over $57Looks like CVNA is ready to breakout in a cup/ handle. Everyone said that it broke out already and is now dying down. But the final handle/ falling wedge is showing signs of a breakout. I posted this at $42 last week but re-emphasizing at $44. As long as you hedge you're not late.
You can capitalize on both ups and downs if you have insurance (hedge).
$CVNA Bullish Megaphone and Inverse Head and ShouldersCVNA looks to be consolidating here. It looks like the bottom may be in and it is forming two bullish patterns at once - a megaphone as well as an inverse head and shoulders. Neckline is in purple, megaphone in orange.
CVNA - Pullback & Future OutlookSubject: Pullback & Future Outlook
Based on my analysis, it's not surprising CVNA is seeing a large pullback. Especially after confirming the cup and handle pattern by breaking through historical resistance at $40 price level. It then briefly broke through historical resistance at $55 price level before pulling back.
CVNA is currently filling the large volume gaps left at the $40-$50 price range. Based on my fibonacci retracement levels, I foresee a reversal happening around mid to late January. This reversal will likely occur once price has reached historical support and consolidated at the $35-$40 price range.
Currently waiting on the RSI and MacD indicators to showcase a reversal in the downtrend on the 4hr timeframe. Also further confirmations from the 10/20/50 day moving averages, along with the ZigZag indicator. Targeting a strong value buy entry at the $40 price target, after selling puts extending through 1/12/24. The options premiums are VERY enticing and I foresee a future run up after consolidation.
I will continue to update this post as time goes on. Happy New Year!
CVNA BULLbounce, into 50.51 stop losses
took out daily lows, ez liquid is to upside on short stops triggerdd
CVNA Cup and Handle IdeaCVNA forming a cup and handle after a big run up. 37% short float. Zoom out and there's plenty of room to run. First idea I'm watching into 2024.
CVNA is Ready to Rally
NYSE:CVNA Carvana Co. found a bottom at the all time low of 3.57 on Dec 7, 2022 after a significant decline from all time highs above 375 in August of 2021. The boom was largely driven by economic factors, there was a booming Used Car market with ultra-low interest rates and a desire to stay indoors with the pandemic that pushed people to use the new type of car-buying delivery service. The following bust was also largely economic: a waning Used Car market, rising interest rates and a subsequent bunch of bad earnings for CVNA.
Now CVNA has steadied revenue, consistent Green Earnings Beats and made consistent higher lows from the bottom and shown strong supports at 7, 25, and 38. While up nearly 15x from the low a year ago, there is a lot of room to run even at current prices. Strong growth potential and the acquisition of brick/mortar car dispensers will allow for more robust revenue beneath the continued growth in deliveries as interest rates level out and the Used Car market resurfaces.
Expect this major bounce momentum off the All Time Low to continue to at least a 38% retracement and previous resistance levels of 145 at a minimum target. With time and consistent momentum, as we've seen over previous years on this asset, prices will likely go back up to common retracement levels .500, .618, .786 and even beyond to new highs. While it could continue, this asset is very volatile, be sure to take profits at target levels.
Carvana breakoutWith hindsight, it wasn't wise to buy NYSE:CVNA as it gapped up (blue arrow). Luckily, the stock has consolidated without breaking down. Yesterday, following the FOMC decision, it broke above the consolidation range. Expect an upside move on NYSE:CVNA but there might be a resistance near $56.
CNVA long termThey say every 2.5x10week candle impulse may correct and every break out consolidation will result in 2.5x10week impulse.
Looking thru stocks , CVNA have a lofty target of 200+ where the red box is based on 6 months TF.
Wowww!!
My opinion.
