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Advanced TA SearchArchive
- 5/10/2024 -
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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 gave back -0.46 points, or -0.83%, and closed at 54.74 on Friday, May 10, 2024. Weekly volume was -12% below average.
CPRT is a member of Industrials Sector. Industrials is the second 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. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance 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 51.30 and resistance is at 60.86. 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 technical indicators are neutral.
The weekly MACD line is above its signal line since November 17, 2023. 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 uptrend had started on April 19, 2024 at 52.41 and reached 56.13 on April 29, 2024. CPRT gained -3.72 points, or -7.10%, in 10 days. The chart has formed a Ascending Triangle chart pattern.
Daily Technical Indicators: [See CPRT daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is above its signal line since May 2, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term uptrend is getting stronger.
During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward 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 distance between the Bollinger Bands is falling, and it was 6.21% on Friday. It is 70.24% 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.
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