How I would trade Carvana (CVNA) today (08 May 23) after 3.6% Scalp Gain on 05 May 23
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As shared in my previous article, [05 May 2023] A.I. Model Daily Stock Watchlist, Carvana (CVNA) was the daily pick stock.
I have managed to do a quick scalp trade to take advantage of the gap up. (though only approx. 3.69%).
How did I plan my entry price on 05 May 2023
I decide to observe the price and volume movement after 9.30pm to 9.45pm. And once the MAVOL5 cross the MAVOL10, I decided to enter at $9.19.
I was observing the Bull/Bear strength, it does not have much Bull strength, so I decided to take approx. 30 cents gain.
I would think if renewed interest is back for Carvana(CVNA) today(08 May 23), this would be how I plan to do a short trade.
I would be looking at key level ($9.60 to $10), if these key level fails, it could gap down to $8.50.
It need to hold $10 and gap over, then I would go for a short trade, entry price would still be around $9.20.
I will watch the Bull/Bear Power on Trading View closely.
Bull/Bear Power on Trading View
I make an entry when Bear strength is at one of its highest, and it has stayed almost the same throughout the same trading session.
I would be looking the Bull strength build up as it gap up, and then there should be an adjustment down to around $9-$9.20, that is where I will plan my entry.
if the price stay below $9 for a long period then this would not be a good tradeable stock.
Appreciate if you could share your thoughts in the comment section on whether you are looking to trade Carvana(CVNA) today (08 May 23).
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Disclaimer: The analysis and result presented does not recommend or suggest any investing in the said stock. This is purely for Analysis.
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Such analysis is very helpful for my investment
if they take the deal Carvana wins with a better deal on the other hand if bond holders refuse it then Carvana wins by gaining the strong confidence from them which proves company works great
bond holders aren’t going to be taking CVNAs debt swap deal, as they know full well CVNA can issue shares to raise funds to pay their debts. Simple as that.
soon will be $300 we will make it great again, which will make us great again
back to $365 then new all time high probably around $675 by next year
sold first at 90% profit, wait till it sank back to 8-10 and buy. house is buying but those house want profit too to pay dividend.