CVNA (Carvana Co.) offers an objective short entry on this backtest of the recently broken primary uptrend line. Stops commensurate with one’s preferred price target(s). 120-minute chart below.
CVNA 120m Jan 16th
Technical (charting) case to be short is made above. From a fundamental perspective, it is my view that Hindenburg’s call on CVNA will prove to be correct and that the strong snap-back rally over the past couple of days is the market’s incorrect (and absurd, IMO) assumption that just because Nate Anderson has decided to disband Hindenburg, that somehow means their research & bearish call on CVNA was incorrect.
Either way, the charts are the charts so as with any trade, pass if this one does not mesh with your outlook for the security, risk-tolerance, and/or trading style & objectives.