Carvana (CVNA) stock has been forming a promising technical structure, indicating a potential bullish breakout. Here’s what traders need to know:
High Beta Stock: CVNA has risen from $25 to $174, showing significant volatility.
Bull Flag Pattern: After a rally, a bull flag has formed, often signaling a breakout.
Decreasing Supply: As supply decreases, buying pressure builds.
Breakout Levels: A breakout above the current consolidation could target $240.
Stop Loss Consideration: A tricky stop loss is recommended at around $156.
Carvana (CVNA) stock trading plan video
Source: https://www.fxstreet.com/news/is-carvana-cvna-stock-set-for-a-big-move-with-a-40-upside-video-202410030511