A Rally, From Here …

The chart segment at left, shows CVNA, testing support; ready to break lower or rally higher.

If there’s a rally, we’re still on track for the next Fibonacci projection: The 261.8%, as shown.

At this point, there has been no new weekly low (below 316.41), so the probabilities favor continued upside (not advice, not a recommendation).

Recall from this update, if price action makes it to the upper Fib level, it will be all-time highs for CVNA.

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