Resistance

Time

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>Carvana stock price recovered approximately 40% from its recent swing low.</a> </li> 
 <li> <span>2</span> <a>CVNA stock price sustains above the 50 day and 200 day EMAs, reflecting an uptrend.&nbsp;</a> </li> 
 <li> <span>3</span> <a>Carvana Co. stock price holds the $36.00 support.</a> </li> 
</ul> 
<p>Carvana Co. (NYSE: CVNA) stock price is up by 976% on a YTD basis and it has formed a strong bullish pattern. CVNA stock price recovered approximately 40% from the recent swing low and it is continuing the upward momentum.&nbsp;</p> 
<p>Carvana stock price took support near the 50-day EMA and showed a bounce. It indicates that the trend is still upward and bulls are continuing their dominance.&nbsp;</p> 
<p>Carvana Co. released the previous quarter’s earnings on July 19, 2023. It reported an EPS of -$0.55 and revenue of $2.968 Billion. The company beat the estimated EPS by 53.46% and the estimated revenue by 13.845%.&nbsp;</p> 
<p>Consequently, CVNA stock price reacted positively and shot up 40% after the release of the earnings report. It hit a 52 week high at $57.19 and created a positive outlook for its long-term investors. Later, prices witnessed minor profit booking and retraced downward to the 50-day EMA.&nbsp;</p> 
<p>The short-term correction took support near $36.00 and the prices again reversed upwards. Carvana stock price closed the previous session at $49.84 with an intraday decline of 1.99%. The market capitalization stands at $9.44 Billion.</p> 
<h2 class="wp-block-heading" id="strong-will-carvana-stock-price-continue-its-momentum-strong"><strong>Will Carvana Stock Price Continue its Momentum?</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large">
  <img decoding="async" loading="lazy" width="1024" height="434" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-63-1024x434.png" alt="Carvana Stock: Will CVNA Stock Break the $60 Hurdle in September?" class="wp-image-165249" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-63-1024x434.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-63-300x127.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-63-768x325.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-63-1536x651.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-63-750x318.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-63-1140x483.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-63.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   NYSE: CVNA daily chart by <a href="https://www.tradingview.com/x/DABIvUGj/" target="_blank" rel="noreferrer noopener">TradingView</a>
  </figcaption>
 </figure>
</div> 
<p>Carvana stock price is in an uptrend and is forming a bullish pattern on multiple time frames. The support levels are shifting higher, indicating the dominance of bulls.&nbsp;</p> 
<p>As long as CVNA <a href="https://www.thecoinrepublic.com/2023/07/21/carvana-stock-shot-up-40-will-cvna-stock-hit-a-52-week-high/">stock price</a> sustains above $36.00, any short-term downfall will be easily absorbed by the buyers. However, if the price drops below $36.00, then the short-term trend might reverse and more of a downside may be witnessed.&nbsp;</p> 
<p>On the higher side $57.00 will act as a strong hurdle for the bulls. The next phase of the rally for Carvana stock will be visible when buyers succeed in breaking the $57.00 hurdle.</p> 
<h3 class="wp-block-heading" id="strong-cvna-stock-price-remains-bullish-on-weekly-time-frame-strong"><strong>CVNA Stock Price Remains Bullish on Weekly Time Frame</strong></h3>  
<div class="tradingview-widget-container">
  &nbsp;&nbsp;
 <div id="tradingview_5b584"></div> &nbsp;&nbsp;
 <div class="tradingview-widget-copyright">
  <a href="https://www.tradingview.com/" rel="noopener nofollow" target="_blank"><span class="blue-text">Track all markets on TradingView</span></a>
 </div> &nbsp;&nbsp;
 <script type="text/javascript" src="https://s3.tradingview.com/tv.js"></script> &nbsp;&nbsp;
 <script type="text/javascript">

  new TradingView.widget(

  {

  "width": 950,

  "height": 500,

  "symbol": "NYSE:CVNA",

  "interval": "D",

  "timezone": "Etc/UTC",

  "theme": "dark",

  "style": "1",

  "locale": "en",

  "enable_publishing": true,

  "allow_symbol_change": true,

  "studies": [

    "STD;Supertrend"

  ],

  "container_id": "tradingview_5b584"

}

  );

  </script> 
</div>  
<p>CVNA stock price formed a strong bullish candle on the weekly time frame. Buyers are trying their best to provide the crucial follow-up momentum. If they succeed, then the upward momentum might continue.&nbsp;</p> 
<p>The broader market indices like Dow Jones, Nasdaq Composite and S&amp;P 500 are recovering. So, if the recovery in indices continues then it might positively impact the prices of Carvana stock in the month of September.</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p>Carvana stock price is up by 976% on a YTD basis. In the past few months, CVNA stock showed a surprising rally and generated nominal returns for its investors.&nbsp;</p> 
<p>The analysis suggests&nbsp; that Carvana stock is bullish but minor retracement toward the 50-day EMA is possible before reaching $60.</p> 
<h5 class="wp-block-heading"><strong>Technical levels</strong></h5> 
<ul> 
 <li>Resistance levels: $52.00 and $57.00</li> 
 <li>Support levels: $36.00 and $30.00</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.</p>

Carvana Stock: Will CVNA Stock Break the $60 Hurdle in September?

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