Grinding its way, to a Set-Up

Will Carvana make it to all-time-highs, or is this, it?

During the past (shortened) week, CVNA, could not print higher, but it did close (barely) higher than June 4th, high of 345.64.

Therefore, on a close basis, we have a potential up-thrust condition (not advice, not a recommendation).

The last short in Carvana, CVNA-25-06, was stopped out with a 2.5%, loss.

Admittedly, it was an ‘iffy’ trade, but even so, the risk was well defined (the June 26th high).

Now, we have another potential set-up, with possibly even better time sequencing and price action position.

Carvana CVNA, Daily Close

From closing high, to closing high, was Fibonacci 21 Days. From low close, to high close, was Fibonacci 13 Days.

There’s even another correlation (not shown), from low close (6/16), to test low (6/26), a Fibonacci 8-Days.

Futures Markets, Back Off

Friday’s futures action may be giving us a hint of what’s to come at the open, Sunday night (tomorrow).

Carvana, CVNA, is not classified as an EXTO vehicle, so, we’ll have to wait for the Monday session to see what happens.

Stay Tuned

Charts by StockCharts

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The Danger Point®, trade mark: No. 6,505,279