$CVNA - RC -
Added 2023-08-05 20:17:22 +0000 UTCA run from $3 to $58 in 7 months is going to bring an aggressive pull back with it.
We can see that the price stopped out exactly at the previous high from August 2022 at $58, it has since dropped down to $40.
Oddly enough, this has been following our count, in spite of how bizarre it looked when we first charted this at the start of the year.
We have Wave C ending high and as always, we expect to see 5 red waves down next, this is part of a corrective wave.
So a good outcome here would be pulling back to end on the upside of this yellow trend line as shown. It can move higher when these 5 waves are complete.
Comments
Hmm premiums are expensive but I wouldn't mind buying a put expiring December based on this info
erich smith
2023-08-05 20:26:18 +0000 UTC
