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Advanced TA SearchArchive
- 4/5/2024 -
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Copart (CPRT) Technical Analysis
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| Summary:
| | Weekly : | | Daily : 
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| | It was the negative week for the Copart (CPRT). During the week, the CPRT dropped -1.37 points, or -2.37%, and closed at 56.55 on Friday, April 5, 2024. It was the worst weekly loss since February 16, 2024. Weekly volume was 13% above average.
CPRT is a member of Industrials Sector. Industrials is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 Long-term trend: [See CPRT long-term trend chart]
A long-term downtrend had started on July 17, 2023 at 94.77 and reached 42.41 on October 3, 2023. CPRT lost 52.36 points, or 55.25%, in 11 weeks. The price is now at the 27.01% retracement level.
 Medium-term trend: [See CPRT medium-term trend chart]
A medium-term uptrend had started on October 3, 2023 at 42.41 and reached 58.58 on April 1, 2024. CPRT gained -16.17 points, or -38.13%, in 25 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 49.91 and resistance is at 68.93. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a medium-term trend.
 Weekly Technical Indicators: [See CPRT weekly technical indicators chart]
Weekly Lane's Stochastic is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought Lane's Stochastic. During the last week, weekly Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Lane's Stochastic help.
The weekly MACD line is above its signal line since November 17, 2023. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.
Short-term trend: [See CPRT short-term trend chart]
A short-term uptrend had started on January 5, 2024 at 46.21 and reached 58.58 on April 1, 2024. CPRT gained -12.37 points, or -26.77%, in 87 days. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 50.39 and resistance is at 59.29. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a short-term trend.
 Daily Technical Indicators: [See CPRT daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is below its signal line since March 26, 2024. The distance between MACD and the signal line is low, but getting bigger.
During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
The distance between the Bollinger Bands is falling, and it was 6.65% on Friday. It is 68.31% lower than one year average. It indicates the period of low volatility of the stock price. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
 Candlestick pattern: [See CPRT candlestick chart pattern]
On Friday the chart has formed a Bullish Harami Candlestick pattern. A Bullish Harami indicates that the bearish trend may be reversing, it signals that it's a good time to enter into a long position. Use the Technical Stock Screener to see the list of stocks that had a Bullish Harami Candlestick pattern during the last week.
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