‘Buy the Rumor, Sell the News?’

We’re just two trading days away from Carvana’s earnings release (link here).

Is that when the plug is pulled?

The ‘fundamentals‘ of this entity are interesting to say the least.

Shorts Grinding Down

Short interest has finally broken below the 10% area; now at 8.5%, link here.

Is the final squeeze coming?

Carvana CVNA, Monthly

In this post, the idea was advanced, CVNA might move higher into the earnings release; maybe even make a new all-time-high (not advice, not a recommendation).

Using the monthly scale, a Fibonacci projection has been overlaid on the chart.

The black dashed line is the 1,794.4%, projection off the first wave upside (and test) from the December 2022, lows (not advice, not a recommendation).

Anything can happen.

Earnings release and conference call are scheduled for after-hours, on Wednesday.

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