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|It was the negative week for the Copart (CPRT). During the week, the CPRT dropped -3.24 points, or -2.75%, and closed at 114.47 on Friday, November 20, 2020. CPRT was trading at average weekly trading volume. |
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 uptrend had started on March 23, 2020 at 55.69 and reached 130.96 on November 9, 2020. CPRT gained -75.27 points, or -135.16%, in 33 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 107.61 and resistance is at 125.54. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a long-term trend.
Medium-term trend: [See CPRT medium-term trend chart]
A medium-term uptrend had started on June 29, 2020 at 78.55 and reached 130.96 on November 9, 2020. CPRT gained -52.41 points, or -66.72%, in 19 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The price is near the trend support (113.07) line. The support is usually stronger when technical indicators are oversold. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend support line in a medium-term trend.
Weekly Technical Indicators: [See CPRT weekly technical indicators chart]
Weekly technical indicators are neutral. Weekly Relative Strength Index, Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Relative Strength Index, Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with weekly Relative Strength Index, Lane's Stochastic and MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading 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 links to access Lane's Stochastic and Relative Strength Index help.
The weekly MACD line is above its signal line since July 24, 2020. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. Use the following link to access a MACD help.
Short-term trend: [See CPRT short-term trend chart]
A short-term downtrend had started on November 9, 2020 at 130.96 and reached 112.05 on November 19, 2020. CPRT lost 18.91 points, or 14.44%, in 10 days. The price is now at the 12.80% retracement level.
Daily Technical Indicators: [See CPRT daily technical indicators chart]
Daily Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Lane's Stochastic.
The daily MACD line is below its signal line since November 11, 2020. This is an indication that the short-term trend is down.
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.
During the last week, the price has declined below the moving average in the center of the Bollinger Bands. 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.