Carvana rises amid negative pressures - Analysis - 26-05-2022

Carvana's stock (CVNA) closed higher with a hefty profit of 16.17%, or 4.31 points, settling at 30.96, with trading volumes approaching 19 million shares, barely above 10-day averages, as the stock tries to recoup some recent losses, amid the dominance of the main downward trend in the medium and short term, with negative pressure from the 50-day SMA, coupled with negative signals from the RSI after reaching overbought levels. 

Therefore we expect the stock to return lower, targeting the support of 22.90. 

Expected trend for today: Bearish