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USA A1 Trading Advice (B) | 23-Oct-2024 | Expected Gain 6%-8%

SHORT TERM TRADING ADVICE IN USA

 BUY   Carvana (NYSE: CVNA)

Carvana (NYSE: CVNA) STOCK RECOMMENDATION

Idea BUY
Buy Range 191 – 196
Target 208 – 211
StopLoss* below 185
Duration 12-14 Trading Days
Potential Returns 6% – 8%
Idea Buy Range Target StopLoss* Duration Potential Returns
BUY 191 – 196 208 – 211 below 185 12-14 Trading Days 6% – 8%

* Once the first target hit, reset the StopLoss at your buying price.

Our recommendations are authentic and transparent. Find this recommendation posted in Tradingview. Be assured such records are permanent and irreversible.

 Tradingview position update

Carvana (NYSE: CVNA) STOCK OVERVIEW

Carvana Co. and its subsidiaries run an online marketplace for the buying and selling of pre-owned vehicles across the United States. Their platform enables users to explore and select a car, utilize the company’s innovative 360-degree imaging technology for inspections, secure financing and warranty options, complete the purchase, and arrange for delivery or pick-up, all from their computers or mobile devices. Additionally, the company manages auction platforms. Established in 2012, Carvana is headquartered in Tempe, Arizona.

Stock Data
NYSE Symbol CVNA
Sectoral Index Gas Stations
52 Weeks High 198
52 Weeks Low 25

Carvana (NYSE: CVNA) - RELATIVE STRENGTH

CVNA-RELATIVE STRENGTH

Relative Performance - Last 1 Year

Carvana —     NYSE —

Carvana (NYSE: CVNA) - DAILY TECHNICAL ANALYSIS

CVNA-DAILY TECHNICAL ANALYSIS
Carvana (NYSE: CVNA) - Technical Analysis (Daily)
  • The stock price is currently on a robust upward trajectory.
  • During this ascent, it formed an Inverted Head & Shoulders pattern.
  • After breaking through, the price shot up and established a Pole & Flag pattern.
  • With yet another breakout, the stock is now moving higher.

Carvana (NYSE: CVNA) - RSI

CVNA-RSI
Carvana (NYSE: CVNA) - RSI
  • Current RSI of this stock is 74.47, which indicates the strength of buyers.

Carvana (NYSE: CVNA) - EMA Cross

CVNA-EMA CROSS
Carvana (NYSE: CVNA) - EMA Cross
  • The short length exponential moving average (10 EMA) has crossed the long length exponential moving average (20 EMA) from the below, generates bullish signal. Last day’s candle has closed above all these moving averages. This suggests buyers are taking interest in this stock.

Carvana (NYSE: CVNA) - ADX & DI

CVNA-ADX & DI
Carvana (NYSE: CVNA) - ADX & DI
  • Increasing ADX value above 20, indicated the strength of the trend, thereby uptrending ADX confirms the bullish or bearish supportive decisions. Along with the rising ADX, and the +DI is above (or crossing) -DI, indicates the long trades should be favoured.

CONCLUSION - Carvana (NYSE: CVNA) STOCK PRICE FORECAST

Based on our stock trading advice in USA, Carvana stock price target will be USD 208 – USD 211 in the next 12-14 trading sessions.

Carvana (NYSE: CVNA) TRADINGVIEW POSITION UPDATE

Buy Carvana by NaranjCapital on TradingView.com

MONEY MANAGEMENT AND TRADING RULES

1)  It’s advisable to enter/exit in the recommended range.
2)  Strictly follow the StopLoss as mentioned. Honour it.
3)  Use trailing StopLoss to retain profits.
4)  Diversify trading capital into our other trading recommendations.
5)  Risk only the money what you can afford to lose. Hedge accordingly.

Advisor / ANALYST SUMMARY

The stock trading advice is prepared by the Naranj Capital team under the guidance of Arijit Banerjee, CMT, CFTe. Arijit is a veteran trader and an active investor having in-depth knowledge of financial market research, advanced technical analysis, market cycle, algorithmic trading, and portfolio management. He is a Chartered Market Technician (CMT) accredited by CMT Association USA, the global authority of Technical Analysis and also has been honored as a Certified Financial Technician (CFTe) by the International Federation of Technical Analysts, USA.

Disclosure

The views expressed herein are based solely on information available publicly/internal data/other sources believed to be reliable, but is not necessarily all-inclusive and is not guaranteed as to accuracy. The recommendations provided herein is solely for informational purposes and are not intended to be and must not be taken alone as the basis for an investment/trading decision. Trading and investing are subject to market risk and the securities discussed and opinions expressed herein may not be suitable for all investors. To read the full disclosure, please click here.

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