Carvana (CVNA) may be near the peak of a potential right shoulder of an H&S formation. In this position we would view this as a short using the high of the day or 3% to the upside as your stop/covering guide. One can use a wider stop of one desires, but remember that maintaining discipline re: your stops on the short side is key to longer-term success as a short-seller.
Short-Sale Set Up - Carvana (CVNA) 10/22/19
|Published:||22 Oct 2019 11:16 ET|
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