CVNA Macro Projection

Macro Analysis for Carvana (CVNA)

Projection:
Based on a comprehensive analysis of pattern and cycle analysis, I anticipate a significant retracement in Carvana's stock price over the next 6 months. This retracement is projected to amount to approximately -50% from its current valuation.

Technical Analysis:
Technical indicators corroborate the assessment of overbought conditions and the emergence of a liquidity zone. Additionally, Indicators such as Spots [TWE], Changes [TWE] and Levels [TWE] align with the projected retracement targets.

Pattern Analysis:
Historical pattern analysis reveals similarities between Carvana's current price movement and previous instances where other securities in the form of fractals or 1-1 matching reached similar levels. The recurrence of such patterns lends credibility to the projection of a retracement.

Targets:
First Target ($75 Range) (0-3 months): The initial target for Carvana's retracement lies within the $75 range.
Second Target ($50 Range) (3-6 months): A secondary target is identified within the $50 range, signifying a deeper retracement and potential consolidation phase.