Carvana Co.Short
CVNA Short Continuation
Updated
Short idea.
Since the beginning of 2023,CVNA has seen a run-up in February that has since run down. Based on the monthly market profiles, excess was generated > 16, and price has not been able to reclaim February's VAL. Currently trading below 200D and testing the 50D. Combined with today's gravestone candle, this feels like big sellers are present > 12.
Short targets: 9.75 / 10 / 10.50
Profit targets: 8.5 / 7.5 / 6.5 / 4.5
Trade is invalidated > 12
Since the beginning of 2023,
CVNA has seen a run-up in February that has since run down. Based on the monthly market profiles, excess was generated > 16, and price has not been able to reclaim February's VAL. Currently trading below 200D and testing the 50D. Combined with today's gravestone candle, this feels like big sellers are present > 12.Short targets: 9.75 / 10 / 10.50
Profit targets: 8.5 / 7.5 / 6.5 / 4.5
Trade is invalidated > 12
Note
Eyeing .CVNA230421P9.5 @ ~1.0Trade active
BOT CVNA230421P9.5 @ 0.97Scaled out 25% @ 1.25
Next trim when CVNA <= 8.50
Stop is BE
Note
Currently 1.34Trade active
If I get stopped out and contract doesn't go < 0.8 and chart looks okay, I'm re-enteringTrade active
Got stopped BE, but re-entered CVNA230421P9.5 @ 1.0 and added back trimSL = 0.8
Trim planned at 1.3
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