The Long Investor

$CVNA - RC -

Added 2023-10-30 11:08:37 +0000 UTC

EW Theory has its critics and sometimes it is justified but then when you can see what it can do, it sometimes blows you away!....$CVNA chart here being the perfect example.

I have added in the previous chart too to show just how accurate it is.

Those who are here long enough will remember that we showed this running from $7 all the way to $50 at the start of the year, a 600%+ plus run, nobody believed that chart and maybe rightly so......but that is what happened, we then showed that it would decline heavy and now we are seeing that play out.

No changes to the plan here, the 0.618 Fib is at the 200 Day MA right now, this is the level where support needs to be found, failure to hold here and it keeps coming down.