Nearing Fibonacci Retrace

With about 15-minutes before the regular open, CVNA has moved slightly higher from yesterday and is nearing Fibonacci retrace levels.

Technically speaking and from a Wycoff standpoint, any push past and into the 38%, level (lower, blue dashed-line), puts CVNA in ‘up-thrust’ (potential reversal) position.

The preferred scenario is a session close within the ‘Up-Thrust Zone’ (not advice, not a recommendation).

Separately, this link is one of the most recent, describing the precarious overall condition of the market.

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