FOMO

Resistance

Million

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>Carvana’s stock is facing bullish headwinds.</a> </li> 
 <li> <span>2</span> <a>CVNA stock price is trading above key moving averages.</a> </li> 
 <li> <span>3</span> <a>Carvana stock (NYSE: CVNA) price was up by 13.47% in the last trading session.</a> </li> 
</ul> 
<p>Carvana stock (NYSE: CVNA) price is attaining momentum and sustaining above the 20, 50, 100, and 200-day EMAs, demonstrating bullishness in the previous trading sessions. The chart also shows a possible breakout above the threshold of $56 as the stock was under a sharp rally. However, the stock price is already at its peak, so it is essential to take the next step wisely.</p> 
<p>The CVNA stock recently tested the demand zone near $36.82, near the 50 EMA and bounced back from there. Buyers have regained their strength and are aiming for the $60 level in the upcoming sessions.</p> 
<p>The chart structure shows a bullish movement in the previous months, as the CVNA stock gained more than 36%.</p> 
<p>Furthermore, the CVNA stock’s trajectory shows that beyond $56, the zone is bullish, and a strong rally could be seen. But, if further rejection takes place, then the stock will return to the 50 EMA support level.</p> 
<p>At press time, Carvana’s stock price was trading at $55.86 with an intraday gain of 13.47%, showing strong bullish intent. Moreover, the intraday trading volume also showed an uptick, at 24.359 Million less than the average 10-day volume of 10.346 Million. The market cap of Carvana stock is $10.582 Billion.</p> 
<p>The CVNA <a href="https://www.thecoinrepublic.com/2023/07/25/carvana-co-cvna-stock-analysis-record-breaking-q2-2023/" target="_blank" rel="noreferrer noopener">stock price</a> performance has been excellent throughout the year. It gave an excellent return of 1061.33% in the year-to-date period, 674.76% in the last six months, 36.96% in the last month, and 13.35% in the last week. This shows that a persistent bullish trend characterizes the CVNA chart which looks unstoppable right now.</p> 
<h2 class="wp-block-heading" id="strong-will-carvana-stock-price-reach-60-or-touch-40-level-strong"><strong>Will Carvana Stock Price Reach $60 or Touch $40 Level?</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large">
  <img decoding="async" loading="lazy" width="1024" height="464" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-455-1024x464.png" alt="" class="wp-image-168337" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-455-1024x464.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-455-300x136.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-455-768x348.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-455-750x340.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-455-1140x517.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-455.png 1273w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Source: Carvana.1D.NYSE by <a href="https://www.tradingview.com/x/AhkavM2V/" target="_blank" rel="noreferrer noopener">TradingView</a>
  </figcaption>
 </figure>
</div> 
<p>Currently, Carvana stock (NYSE: CVNA) is trading above the 50 and 200-day SMAs (simple moving averages), which are supporting the bullish momentum.&nbsp;</p> 
<p>Moreover, if buying volume adds up, then the price might support bullish momentum by making higher highs and new highs. Hence, the Carvana price is expected to move upwards giving bullish views over the daily time frame chart.</p> 
<p>The current value of RSI is 676.13 points. The 14 SMA is above the median line at 61.04 points which indicates that the Carvana stock is bullish.</p> 
<p>The MACD line at 2.99 and the signal line at 2.48 are above the zero line and green bars on the zero lines indicate bullishness.</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p>CVNA stock price is trading near the crucial resistance level of $56. The MACD, RSI, and EMAs are supporting the bullish momentum. Moreover, the price is already at its peak so investors and traders should avoid FOMO and take the next step wisely.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<ul> 
 <li><strong>Support Levels</strong>: $46.69 and $40.08.</li> 
 <li><strong>Resistance Levels: </strong>$56.97 and $63.58.</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your own research before making any financial decisions</p>

Carvana Stock: Will CVNA Stock Head Back To the $40 Level?

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