Date With Destiny

Anyone with two piston-rings rubbing together knows, the car industry is in chaos if not full-blown collapse, links here, here, and here.

We also ‘know’ that Carvana’s financial results have reached the realm of ‘interesting‘.

The last update on Carvana proposed that price action might continue on to a 50% retrace.

So far, it’s not happening.

In fact, it looks like CVNA, has decided to roll-over.

Carvana CVNA, Weekly

Price action has formed a terminating wedge, currently testing the bottom … potentially near a breakout to the downside (not advice, not a recommendation).

It’s about ten minutes after the open; CVNA is trading down 2.14-pts @ 128.58, hovering around the bottom wedge line.

Because CVNA, has such an ‘interesting’ business model, if and when we get a surprise, price action could move faster than anyone thought possible (not advice, not a recommendation).

Stay Tuned

Charts by StockCharts

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