CarGurus, Inc SL-$45,99 TP-$28Technical Analysis:
The clear historical pattern and the risk-reward it offers will undoubtedly attract a lot of selling pressure. In a trade based on probabilities, this would be a good opportunity.
Market insights
CarGurus (CARG) AnalysisCompany Overview:
CarGurus, a leading online platform for buying and selling cars, continues to attract investor confidence with its growing user base and strong market positioning. The platform's ability to connect consumers with dealers is driving its popularity, making it a significant player in the automotive marketplace.
Key Highlights:
Rising User Engagement: CarGurus saw a 3% increase in average monthly users, a strong indicator of consumer engagement and platform relevance. This growth reflects the company's effectiveness in attracting and retaining users, crucial for long-term success.
Analyst Optimism: Analysts are bullish on CarGurus' prospects. JPMorgan Chase & Co. raised their target price to $32.00, while BTIG Research set theirs at $30.00, both maintaining a "Buy" rating. This analyst confidence highlights the market's positive view of CarGurus' growth trajectory.
Revenue Growth: The company's Marketplace business reported its largest quarterly revenue increase since 2021. This growth was driven by higher adoption of add-on products, a shift to premium service tiers, and expansion of its global dealer base, all contributing to stronger financial performance.
Investment Outlook:
Bullish Outlook: We are bullish on NASDAQ:CARG above the $23.00-$24.00 range.
Upside Potential: With an upside target of $35.00-$36.00, CarGurus presents a compelling growth opportunity as it continues to enhance its platform, expand its dealer network, and increase user engagement.
📈🚗 CarGurus—driving growth and accelerating your portfolio! #CARG #Automotive 🚗💼
CARGURUS Stock Chart Fibonacci Analysis 120723Trading Idea
1) Find a FIBO slingshot
2) Check FIBO 61.80% level
3) Entry Point > 19.4/61.80%
Chart time frame : B
A) 15 min(1W-3M)
B) 1 hr(3M-6M)
C) 4 hr(6M-1year)
D) 1 day(1-3years)
Stock progress : A
A) Keep rising over 61.80% resistance
B) 61.80% resistance
C) Hit the bottom
D) Hit the top
Stocks rise as they rise from support and fall from resistance. Our goal is to find a low support point and enter. It can be referred to as buying at the pullback point. The pullback point can be found with a Fibonacci extension of 61.80%. This is a step to find entry level. 1) Find a triangle (Fibonacci Speed Fan Line) that connects the high (resistance) and low (support) points of the stock in progress, where it is continuously expressed as a Slingshot, 2) and create a Fibonacci extension level for the first rising wave from the start point of slingshot pattern.
When the current price goes over 61.80% level , that can be a good entry point, especially if the SMA 100 and 200 curves are gathered together at 61.80%, it is a very good entry point.
As a great help, tradingview provide these Fibonacci speed fan lines and extension levels with ease. So if you use the Fibonacci fan line, the extension level, and the SMA 100/200 curve well, you can find an entry point for the stock market. At least you have to enter at this low point to avoid trading failure, and if you are skilled at entering this low point, with fibonacci6180 technique, your reading skill to chart will be greatly improved.
If you want to do day trading, please set the time frame to 5 minutes or 15 minutes, and you will see many of the low point of rising stocks.
If want to prefer long term range trading, you can set the time frame to 1 hr or 1 day.
US Stock In Play: $CARG$CARG bouncing off its VWAP from Q3 ER to rising 10&20MA. it underwent 6 consecutive days of low volume retracement after rallying +43.96% post Q4 ER to fantastic YoY growth numbers (EPS +34%, Sales +124%)
the last significant VWAP to reclaim is from Q4 ER at $43.05
Khan's Watchlist - KW 01/03 - $CARGNew and Used Care Markets keep being strong, with very high prices due to supply-chain issues.
With the continuation of Omicron possible focus (again) on individual holidays/camping etc. – Buy-time for caravans etc. usually Winter/Spring
CARG, 2 HrsNASDAQ:CARG ,
Crab Harmonic Pattern
--------------------------------------------
Short Between 41.43 - 42.53
Buy Back @ Target 1 : 38.00, Target 2: 39.75
Stop Loss @ 43.50
DISCLAIMER:
I am not a financial /investment advisor. All information I am sharing here is for entertainment purposes only and should not be considered personal investment advice.
While the information provided is accurate, it may include errors or inaccuracies. Please, do your diligence when it comes to investing or trading in the market.
You are responsible on your choice. Thank you
$CARG Darvas Box Break-out?$CARG broke out of the Weekly box a few weeks ago. It has now re-tested the break-out area, probably because of general market weakness. It is preforming well here so I'll take a chance to go long with a stop just below today's low. It either gets going or I'm out with a small loss. Relevant notes on chart for trade. Ideas, not investing / trading advice.
looking to buy CarGurus is a Cambridge, Massachusetts-based automotive research and shopping website that assists users in comparing local listings for used and new cars, and contacting sellers. CarGurus is pronounced as a single word, rhyming with 'kangaroos'
$CARG Potential for a swingLet's see what happens. A 10% profit short term would be nice! Fingers crossed!
Not financial advice. I'm not a financial advisor.
Power Earnings Gap: CarGurusRecently reported earnings where we saw numbers coming in above expectations, creating a 'Power Earnings Gap (PEG)' on elevated volume as well as a post-earnings flag formation being developed.
Looking for the next leg higher:
Buy stop: $28.85 (trigger)
Stop-loss: 27.00
Target range: $31.60-$32.15
Last Close: $28.22
$CARG Early Trend SetupConsolidating its 20% burst gain very nicely. Path of least resistance is for a 2nd burst higher from here. Look back at December of last year for similar setup.
Cargurus Inc Cl A (CARG)- PROVIDES ONLINE AUTOMOTIVE MARKETPLACE CONNECTING BUYERS AND SELLERS OF NEW AND USED CARS
CARG: Breakout Confirmed, 22.2% Potential Profit!Description: CARG is trending higher and in an uptrend meaning that highs are getting higher and lows are getting higher. The uptrend line on the chart and the Trending Band Indicator (which measures trend) supports the Long Position.
Stats:
1. Ideal buy range: $28.4 - $29.5
2. Take profit: $34.68
3. Stop Loss: $27.25
4. Risk To Reward: 1 / 6
5. Accuracy Rating: 89%
CARGURUS Stock Price Maybe On Its Way To Test Upper ChannelAfter another touch on the lower channel of the bearish wedge, CARG stock price bounces upside. Is the stock now ready to re-test the upper channel? Some important levels to note for sellers participation include 29.20 & 34.00
N.B
- Let emotions and sentiments work for you
-ALWAYS Use Proper Risk Management In Your Trades
CargurusLooking for $28. Just did a call option.
What do you think?
Like, Follow,Agree, Disagree!
Let's have a great day!
CARG - Solid Fundamentals and strong Technical PatternTrying new things here, after identifying a cup w/ handle pattern. Volumes confirm the pattern formation. Furthermore, CARG presented strong EPS growth during the last quarter which confirm previous trend. The company has a new CEO and might be placed to announce another strong quarter. CARG releases Q4'20 information next thursday FEB 11, 2020. Direction to be confirmed once this announcement is made.
