Your First Trade For Wednesday, March 13: Carvana Co. (CVNA), Revolution Lighting Technologies, Inc. (RVLT) – The RNS Daily

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The shares of Carvana Co. (NYSE:CVNA) dropped by -26.85% or -$19.49 from its last recorded high of $72.59 which it attained on December 09 to close at $53.1 per share. Over the past 52 weeks, the shares of Carvana Co. has been trading as low as $18.04 before witnessing a massive surge by 194.35% or $35.06. This price movement has led to the CVNA stock receiving more attention and has become one to watch out for. It jumped by 1.84% on Tuesday and this got the market excited. The stock’s beta now stands at 0 and when compared to its 200-day moving average and its 50-day moving average, CVNA price stands 21.32% above and 42.12% above respectively. Its average daily volatility for this week is 7.62% which is less than the 8.35% recorded over the past month.

Carvana Co. (CVNA) rose 10.67% this week, a trend that has led to both investors and traders taking note of the stock. Over the past one year, the equity price has embarked on a rally that has seen it rise 194.51% and is now up by 62.34% since start of this year. A look at its monthly performance shows that the stock has recorded a 65.01% gain over the past 30 days. Its equity price climbed by 48.7% over the past three months which led to its overall six-month decrease to stand at -13.66%.

Experts from research firms are bullish about the near-term performance of Carvana Co. with most of them predicting a $54.68 price target on a short-term (12 months) basis. The average price target by the analysts will see a 2.98% rise in the stock and would lead to CVNA’s market cap to surge to $7.94B. The stock has been rated an average 2.1, which roughly stands towards the bearish end of the spectrum. Reuters looked into the 16 analysts that track Carvana Co. (NYSE:CVNA) and find out that 6 of them rated it as a Hold. 9 of the 10 analysts rated it as a Buy or a Strong Buy while 1 advised investors to desist from buying the stock or sell it if they already possess it.

A look at CVNA technical analysis shows that its 14-day Relative Strength Index (RSI) is in a overbought zone after reaching 75.43 point. Its trading volume has added 671416 shares compared to readings over the past three months as it recently exchanged 2701416 shares. This means there is improved activity from short-term traders as per session, its average trading volume is 2030000 shares, and this is 1.33 times the normal volume.

The price of Revolution Lighting Technologies, Inc. (NASDAQ:RVLT) currently stands at $0.25 after it went down by $-0.03 or -10.59% and has found a strong support at $0.23 a share. If the RVLT price drops below that critical support, then it would lead to a bearish trend. In the short-term, a dip below the $0.21 mark would also be bad for the stock as it means that the stock would plunge by 16% from its current position. However, if the stock price is able to trade above the resistance point around $0.29, then it could likely surge higher to try and break the upward resistance which stands at $0.32 a share. Its average daily volatility over the past one month stands at 12.1%. The stock has plunged by 1.8% from its 52-weeks high of $0.2455 which it reached on Jun. 22, 2018. In general, it is 4% above its 52-weeks lowest point which stands at $0.24 and this setback was observed on Nov. 03, 2019.

The RVLT stock Stochastic Oscillator (%D) is at 9.69%, which means that it is currently oversold and its prices could jump very soon. The shares P/S ratio stands at 0.04 which compares to the 1.82 recorded by the industry or the 155.47 by the wider sector. The stock currently has an estimated price-earnings (P/E) multiple of 0, which is lower than the 0 multiple of 12-month price-earnings (P/E). The company’s earnings have gone up, with a quarterly increase rate of 16.2% over the past five years.

Analysts view Revolution Lighting Technologies, Inc. (NASDAQ:RVLT) as a Buy, with 0 consensus rating. Reuters surveyed 2 analysts that follow RVLT and found that 0 of those analysts rated the stock as a Hold. The remaining 2 were divided, with 2 analyst rating it as a Buy or a Strong Buy while 0 analysts advised investors to desist from buying Revolution Lighting Technologies, Inc. (RVLT) shares or sell it if they already own it.

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