Testing The Break

Yesterday, Carvana launched into a test of its trend break, shown in Wednesday’s update, link here.

This morning’s pre-market action is ever-so-slightly lower (7:32 a.m., EST); we’ll have to see what happens next.

If yesterday’s high holds, Carvana is posting lower highs, and lower lows, the definition of a downtrend.

Carvana CVNA, Daily

The stop for (short) CVNA-25-03, remains at 306.98.

However, if we have continued buoyancy during this session, there may be a discretionary exit (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