Macro Analysis for Carvana (CVNA)
Projection:
Based on a comprehensive analysis of pattern and cycle analysis, I anticipate a significant retracement in Carvana's stock price over the next 6 months. This retracement is projected to amount to approximately -50% from its current valuation.
Technical Analysis:
Technical indicators corroborate the assessment of overbought conditions and the emergence of a liquidity zone. Additionally, Indicators such as Spots , Changes and Levels align with the projected retracement targets.
Pattern Analysis:
Historical pattern analysis reveals similarities between Carvana's current price movement and previous instances where other securities in the form of fractals or 1-1 matching reached similar levels. The recurrence of such patterns lends credibility to the projection of a retracement.
Targets:
First Target ($75 Range) (0-3 months): The initial target for Carvana's retracement lies within the $75 range.
Second Target ($50 Range) (3-6 months): A secondary target is identified within the $50 range, signifying a deeper retracement and potential consolidation phase.
Projection:
Based on a comprehensive analysis of pattern and cycle analysis, I anticipate a significant retracement in Carvana's stock price over the next 6 months. This retracement is projected to amount to approximately -50% from its current valuation.
Technical Analysis:
Technical indicators corroborate the assessment of overbought conditions and the emergence of a liquidity zone. Additionally, Indicators such as Spots , Changes and Levels align with the projected retracement targets.
Pattern Analysis:
Historical pattern analysis reveals similarities between Carvana's current price movement and previous instances where other securities in the form of fractals or 1-1 matching reached similar levels. The recurrence of such patterns lends credibility to the projection of a retracement.
Targets:
First Target ($75 Range) (0-3 months): The initial target for Carvana's retracement lies within the $75 range.
Second Target ($50 Range) (3-6 months): A secondary target is identified within the $50 range, signifying a deeper retracement and potential consolidation phase.