Where The Stops Are Hiding

We’ve had one (short) target come and go, link here.

Tests can pass or fail.

In the most recent case of CVNA, the test of the up-thrust (reversal) failed to hold; price action launched higher.

So, what happens now?

Maybe a better question is ‘where’s the next (potential) low risk area for a short position?’

Carvana CVNA, Daily

Unless CVNA, reverses from its current level, the next likely place to clear out stops, is the target area shown (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