Verified Investing on $CVNA (Oct 29, 2026)

Next up, folks, is Caravana stock, which rose 15% today. He achieved good results in profits. I want to give you some technical analysis to give you a simple idea of why we could have predicted the bounce where it happened.

I was a little confused, and I'll explain why in a moment. But basically, we have a long-term upward parallel channel with three bottom touches. The third contact is usually the most reliable to cause a rebound.

We have one contact here, and the second contact here. And now, things get a little suspicious. This third touch was actually a collective touch for all these days, and you can see here that we first touched the trend line, i.e. the bottom of the parallel channel, on October 14.

And when we did that, we were getting very close to the earnings announcement, which had just been released, and the price didn't really get the bounce and excitement it could have.

Nations, and it was simply a matter of waiting for the earnings announcement. Investors often do this because, in many cases, profits are like a coin tossed around. Will we rise, will we fall, or will we do nothing at all, right?

It is indeed a scenario more like a currency reversal, but with the technical indicators on the chart, and considering it was the third time we reached this level, the odds were in favor of a bounce, and that is exactly what we got.

I have descending trend lines that show where the price is likely to find its next resistance. That will be at $70.15 as early as tomorrow, as a pivot point, which was a breakout from the other downtrend line.

Look at that beautiful breakout, the pullback, then the bounce, then we went down, and bounced back again, and again, and again, and again. This had an attraction that drew in the price movement, and in the end we got another continuation bounce on this chart.

Therefore, watch for resistance tomorrow in Carvana stock around the $70 range.