Was That It?

Is Carvana just like Wile E. Coyote, where he heads off the cliff, hangs for a moment, then looks down?

When looking at the weekly chart, we see the trend break and then what looks like a test.

The question is, was that it?

Carvana, CVNA, Weekly

As shown above, the nuance that hints at continued lower prices, not a more protracted test, is today’s open; that is, it’s below, last week’s close (not advice, not a recommendation).

Positioning

From a corporate standpoint, no positions (long or short) are planned for CVNA.

We’re just noting the price action, providing the analysis (not advice, not a recommendation).

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