Ever Higher

Is this a ‘race to the finish’ on the squeeze?

According to Big Charts, CVNA short interest has dropped over the past few months from about 32%, shares-short, to about 13%, today.

The last update identified an earnings release precipitated up-thrust (which it was).

That condition only lasted for a few days before going on to post a new (recovery) high this past Friday.

Carvana CVNA, Weekly

Retrace levels are shown.

Fibonacci 50%, in the vicinity of CVNA, 192.

Right now, CVNA is still at the 38% level, closing last Friday’s session near the day’s high.

Disregarding ‘interesting’ numbers, getting back to reality, here’s a ‘boots on the ground’ assessment of the car market, link here.

So, with all this Carvana excitement, you have to ask yourself, ‘Do you feel lucky?’

Stay Tuned

Charts by StockCharts

Note:  Posts on this site are for education purposes only.  They provide one firm’s insight on the markets.  Not investment advice.  See additional disclaimer here.

The Danger Point®, trade mark: No. 6,505,279