Can We Still Trade Carvana (CVNA.US) Tonight! Use TA to Find Out!

The agreement will eliminate over 85% of its 2025 and 2027 unsecured note maturities and lower its required cash interest expense $430 million a year for the next two years.

In this article, I would like to share whether there is more opportunity for us to trade Carvana considering the share price has risen so much.

I will be using Technical Analysis to look at different indicators and what do they tell us.

If we look at the SMA, CVNA actually just started its bull trend not long ago. So this might pose an opportunity to monitor its price and volume movement to prepare for a trade.

I will look out for its current momentum as CVNA has risen quite significantly and whether there is any reversal that just happen.

RSI show that Carvana is currently overbought which mean that traders and investors might do profit taking. I would expect a short sell off.

This is when the price should come down to a stable level for entry if you planned to trade.

I will share my target price in the Summary section.

ADX is above 50, this indicate a very strong trend. +DI is well above -DI suggest that the trend is very bullish and moving upwards.

I would use this in combination with RSI and SMA. I will continue to monitor its price movement today (20 Jul) before I planned for a trade.

SAR has just given me the confidence that Carvana is on a very strong bullish upwards trend with no reversal in sight.

There is also no signs of slowing down of this bullish trend.

But I would still think that there might be some price adjustment due to profit taking and this opens an opportunity for a trade.

From the technical analysis, I would think there might be some investors or traders do profit taking and this might open up an opportunity to plan for an entry.

Appreciate if you could share your thoughts in the comment section whether you think the technical analysis has given you confidence to plan for a trade for Carvana tonight?

Disclaimer: The analysis and result presented does not recommend or suggest any investing in the said stock. This is purely for Analysis.