Technical indicators signal a Diamond forming. Verify the setup on the chart.
Indecision. Widening then narrowing range.
Bearish continuation if preceding move was down.
Traders are watching Carvana (CVNA) as price action tightens. With a last close of $66.56, volatility remains active (5.89%). Price action has carved out a classic Diamond. Buying pressure is strong relative to the 20-day average. A potential breakout level is identified at $61.03, targeting $40.11 with support near $71.49 (R:R 2.0).
What is your outlook on CVNA?