CVNA Technical Outlook – Trading in a Defined Range

🚗 CVNA Technical Outlook – Trading in a Defined Range

Ticker: CVNA (Carvana Co.)
Timeframe: 30-minute candles

🔍 Current Setup
CVNA has been trading in a clear horizontal range for several weeks.
Range Support: ~340
Range Resistance: ~370
Current price: ~365, approaching the top of the range.

This makes 370 the critical level to watch — a breakout could trigger momentum higher, while rejection may send price back toward mid-range.

📊 Breakout Levels
🚀 Upside (Bullish Scenario)
Trigger: Break and close above 370.
Intermediate Targets:
385–390 → First resistance zone.
400–415 → Gap fill area and prior supply.

Measured Move Target: ~400–410 (equal to the range height projection).

🔻 Downside (Bearish Scenario)
Trigger: Rejection at 370 and break below 340.
Intermediate Supports:
330 → Near-term demand zone.
310–305 → Deeper support base.
Measured Move Target: ~310 (range breakdown projection).

📈 Volume Analysis
Volume spikes align with moves near range boundaries.
Current rally toward 370 needs sustained buying volume to break out; otherwise, sellers may fade the move.

⚖️ Probability Bias
With price pressing 370 resistance, bulls are attempting to reclaim momentum.
A strong breakout could accelerate toward 400+, but until then, CVNA remains range-bound between 340–370.

✅ Takeaway
CVNA is at the top of its trading range:
Bullish Break > 370: Targets 385 → 400 → 415
Bearish Break < 340: Targets 330 → 310

Expect sideways chop unless one side decisively breaks the range with volume.