CVNA Price Prediction Next Week
Based on the provided data and recent market developments, here's a comprehensive analysis for CVNA's price prediction for next week:
Technical Analysis
The stock is currently showing mixed technical signals:
- RSI at 61.24 indicates moderate bullish momentum but not overbought
- MACD at 2.24 suggests positive momentum
- Trading above both 20-day SMA (212.35) and 200-day SMA (162.88), indicating strong uptrend
Recent Price Action and News Impact
- CVNA has experienced significant volatility recently, with the stock trading at $230.32 as of the latest close
- The company recently reinstated a $4 billion agreement with Ally Financial for used-car loan receivables, which helped boost investor confidence
- Hindenburg Research's recent short report caused temporary pressure but the stock has shown resilience
Price Target Analysis
Based on Fibonacci levels:
- Resistance levels: R1: $239.51, R2: $253.22, R3: $275.41
- Support levels: S1: $195.12, S2: $181.41, S3: $159.21
- Pivot point: $217.31
Next Week's Price Prediction
Given the technical indicators and recent developments:
- Bullish scenario (60% probability): Stock likely to test R1 at $239.51, potentially reaching R2 at $253.22 if positive momentum continues
- Bearish scenario (30% probability): Could retrace to S1 at $195.12 if market sentiment shifts
- Neutral scenario (10% probability): Consolidation between $220-235 range
Trading Recommendation
BUY with the following parameters:
- Entry point: Current market price ($230.32)
- Initial target: $239.51 (R1)
- Secondary target: $253.22 (R2)
- Stop loss: $195.12 (S1)
The recommendation is based on:
- Strong technical uptrend
- Positive resolution of Ally Financial agreement
- Resilience shown against short seller claims
- Above key moving averages
CVNA Similar Chart Price Prediction
The price of CVNA is predicted to go up 0.56%, based on the high correlation periods with CCK. The similarity of these two price pattern on the periods is 96.64%.
CVNA
CCK
Up: 0.56%Similarity: 96.64%
CVNA Revenue Forecast
CVNA EPS Forecast
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CVNA Analyst's Forecast
Ronald Josey
Citigroup
Hold → Strong Buy
Price Target
$195 → $277
Upside
+40.72%
Citi analyst Ronald Josey upgraded Carvana to Buy from Neutral with a $277 price target.
Brad Erickson
RBC Capital
Hold → Buy
Price Target
$270 → $280
Upside
+41.16%
Chris Pierce
Needham
Strong Buy
Price Target
$300 → $330
Upside
+35.23%