Please comment below and let me know what you think.
Earnings after the close tomorrow.
The stock can rally 10-15% before continuing downward lower.
Last week, we officially broke down and out of the contracting ending diagonal pattern. within an extended 5th wave.
- Look at the volume over time....
- Most will see the RSI near 40-50 thinking this is a pullback and to buy this support level, but they will be more exit liquidity.
- Yellow count is the only alternative bullish count I can see, but the retracement makes no sense.
This extended 5th wave is akin to Bitcoin. Insane.
Expect a crypto-style correction here.
Possible the company juices things in the earnings call to try and get more liquidity to get out, but the market may sniff them out as well. Either way, Carvana is going down, by a lot, this year.
Any plays should allow 3 months at least for this to play out, if not 6 months. And I mean 3-6 months for a $280-$300 strike put level.
*Not financial advice.
Look at the evidence. Decide for yourself.
Earnings after the close tomorrow.
The stock can rally 10-15% before continuing downward lower.
Last week, we officially broke down and out of the contracting ending diagonal pattern. within an extended 5th wave.
- Look at the volume over time....
- Most will see the RSI near 40-50 thinking this is a pullback and to buy this support level, but they will be more exit liquidity.
- Yellow count is the only alternative bullish count I can see, but the retracement makes no sense.
This extended 5th wave is akin to Bitcoin. Insane.
Expect a crypto-style correction here.
Possible the company juices things in the earnings call to try and get more liquidity to get out, but the market may sniff them out as well. Either way, Carvana is going down, by a lot, this year.
Any plays should allow 3 months at least for this to play out, if not 6 months. And I mean 3-6 months for a $280-$300 strike put level.
*Not financial advice.
Look at the evidence. Decide for yourself.
כתב ויתור
המידע והפרסומים אינם מיועדים להיות, ואינם מהווים, ייעוץ או המלצה פיננסית, השקעתית, מסחרית או מכל סוג אחר המסופקת או מאושרת על ידי TradingView. קרא עוד ב־תנאי השימוש.
כתב ויתור
המידע והפרסומים אינם מיועדים להיות, ואינם מהווים, ייעוץ או המלצה פיננסית, השקעתית, מסחרית או מכל סוג אחר המסופקת או מאושרת על ידי TradingView. קרא עוד ב־תנאי השימוש.