Gap Theory

Will Carvana close the gap, posted last Friday, the 13th?

With the caveat that anything can happen, markets tend to come back (up) for a test (not advice, not a recommendation).

In the case of CVNA, that ‘test’ area also corresponds to a 50%, Fibonacci retrace, as shown.

Carvana CVNA, Daily

The Fibonacci Day 89 (from the February 19th, high), is marked as the red arrow and vertical line.

That day, June 26th, also corresponds to a Fibonacci 8 Days from the low just posted, this past Monday.

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