We’re Close

Carvana could implode from here.

The question is, will it?

If CVNA, posts a new daily low tomorrow, then odds tilt toward swan-dive to the street (not advice, not a recommendation).

If not, and we’re actually in a set-up to test higher, or even post new all-time highs, then we’ll know that soon, as well.

Carvana CVNA, Daily

The chart shows how well CVNA, price action is respecting the Fibonacci levels.

If there is a reversal higher, it’s either a test of the recent highs, or a ‘spring’ set-up to potential all-time highs.

No matter what, CVNA appears to be nearing some kind of ‘event’ (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