Ming Jong Tey
Independent Analyst
Carvana (CVNA) stock has been forming a promising technical structure, indicating a potential bullish breakout. Here's what traders need to know:
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High beta stock: CVNA has risen from $25 to $174, showing significant volatility.
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Bull flag pattern: After a rally, a bull flag has formed, often signaling a breakout.
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Decreasing supply: As supply decreases, buying pressure builds.
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Breakout levels: A breakout above the current consolidation could target $240.
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Stop loss consideration: A tricky stop loss is recommended at around $156.
Carvana (CVNA) stock trading plan video
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