If i were to ask you how many cars do you think a used car dealership can sell in one year? What would you say what's going on team? It's ricky with tackle solutions, hope that you guys are all having an amazing monday. It's actually not too bad of a start to the week. Uh amc for those that are actually paying attention to amc today. Uh is now beginning to trade above 38 dollars a share teeter-tottering in between 38 to 37.90 up a little bit over a thousand dollars.

I have 1500 shares wanted to update you guys on my position same thing with tqqq really nice gap up, it was up nearly 1.5 today pulled back just a little bit, but what i want to talk about is how many of you guys like when i make Oversold or cheap stock videos - if you do please make sure you absolutely destroy the like button, so i can continue to make these videos. What i want to talk about today is i added a new stuff to my watch list, and this is carvana cvn carvana in 2020 alone, one of the worst times right 2020 in the year sold over 244 000 vehicles, making it the second largest used car dealership In the united states, pretty insane right and if you guys don't know what carvana and how they structure out their business, everything is online, which is pretty impressive right. Carvana might look a little weird on the four-hour time frame. If you take a step back, how beautiful does this look on the day chart? I have three things that every stock has to me for it to be a stock that i potentially want to invest in.

This is not necessarily a day trade, of course, because i don't expect carvana to recover right away, but i like to focus on three things: consistency, a stock that is bullish over a long period of time, meaning indicating signs of an uptrend. And the last thing is a deal how many people like to overpay. I know i don't right and with carvana and how it recently pulled on back check this out we're going to use the little trendline tool here on the weeble trading platform, from where we're at right now to previous highs, that's over a 30 roi! Now, if we just return to 350, which is a more common resistance level, that's 22 percent still over 10 to 15. So there's no such thing as a perfect trade.

So, even though that the potential might be 30, even if i make 10 or 15, i would be very happy, but most importantly, one of the things that we always like to say is patterns tend to repeat themselves. They don't always have to. I like that. Carvano recently pulled on back it's at a potential support level, macd rsi everything is looking good based off of previous lows, but it's not indicating signs of an option.

So what did i do? I added it to my oversold watch list. I set an effective alert and once and if it begins, to indicate signs of an option of an established support level, and literally you know, for those that are going to be asking well, what are you looking for? I want carvana to do exactly what it did back in 518, 2021, where it became oversold. It broke above ema and then consistently began to indicate signs of an uptrend and make higher highs and higher lows above the ema line. I like to keep things simple, and it is so much easier when you put your money in stocks that are indicating signs of growth.

So all i need carbonate to do is now begin to trade above the ema line, which is right now currently at 304. So you can, let me know in the comment section what you think about carbona: it's an oversold stock based off of previous lows. It's bullish and it's consistent. Would this be a stock that you would potentially see that one you can.

Let me know in the comment section again: it's agreed to disagree. We all see value in different ways, and i'm always here to encourage you and empower you to you know stay true to that right. The last thing that i do want to cover is right. Now, the nasdaq market, if you guys look at this on the four hour time frame, we're at a critical point we're at the sma line, we're at the moving average we're at a critical point where we've been rejected around this area before so.

This upcoming week might be a big week where we're gon na potentially begin to indicate signs of a recovery breaking above you know, 15 000 on the nasdaq index and or if we get rejected, then we're headed back to previous lows, making lower highs and lower lows. I just wanted to make sure that i don't always just talk about the upside, but of course talk about the potential of the downside, as there is two sides to every opportunity. So you can. Let me know in the comments section what you are doing to prepare.

If the market pulls back and or if it begins to recover, so i hope that i earned your thumbs up in this video friendly reminder. If you guys haven't checked out the wall street bull statue, this is obviously a necessity for your trading setup, but totally kidding. If you guys want to check this out, it's now available on our shop tech, buds site and again that is that third link down in the description. If you want to go ahead and check it out, i really do appreciate you guys time.

I hope that i earned your thumbs up. Please consider subscribing and, like always, let's make sure that we in the year on agree now take it easy team.