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Daily MACD Divergence:Bearish
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Moving Average Convergence Divergence (MACD)

Moving Average Convergence Divergence (MACD indicator) was developed by Gerald Appel, and it represents the relationship between two moving averages. MACD crossover with the signal line warns about the trend weakening. MACD dramatic rise represents an overbought/oversold condition and indicates the trend exhaustion. The MACD divergence between price and indicator is the one of the most popular buy/sell MACD signals.

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- 3/15/2024 -
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Copart (CPRT) Technical Analysis

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Summary:
Weekly :Overbought sectorLane's Stochastic is overboughtWilliams' Percentage Range is strongly overbought
Daily :Broken uptrend resistance line - uptrend exhaustionWilliams' Percentage Range is strongly overboughtStochastic signal line moved below overbought areaRelative Strength Index, Lane's Stochastic and MACD bearish divergenceBearish Two Crows Candlestick
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It was a fourth consecutive positive week for the Copart (CPRT). During the week, the CPRT gained 1.17 points, or 2.13%, and closed at 56.13 on Friday, March 15, 2024. Weekly volume was 139% 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 November 16, 2021 at 161.12 and reached 42.41 on October 3, 2023. CPRT lost 118.71 points, or 73.68%, in 98 weeks. The price is now at the 11.56% 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 56.96 on March 14, 2024. CPRT gained -14.55 points, or -34.31%, in 23 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 49.03 and resistance is at 66.33. 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 overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic or strongly overbought weekly Williams' Percentage Range. 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 Williams' Percentage Range 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 56.96 on March 14, 2024. CPRT gained -10.75 points, or -23.26%, in 69 days. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend resistance line (49.49) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a short-term trend.

Daily Technical Indicators: [See CPRT daily technical indicators chart]
Daily Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought daily overbought Williams' Percentage Range. During the last week, daily Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal. Daily 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 daily 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. Use the following link to access Relative Strength Index help.

The daily MACD line is above its signal line since February 23, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.

Candlestick pattern: [See CPRT candlestick chart pattern]
On Friday the chart has formed a Bearish Two Crows Candlestick pattern. The reliability of the Bearish Two Crows pattern is medium. Use the Technical Stock Screener to see the list of stocks that had a Bearish Two Crows Candlestick pattern during the last week.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 80.00
Bearish
Williams' Percentage Range (W%R) 5.80
Strong Overbought
Lane's Stochastic (%D-Slow) 79.49
Bearish
Greed/Fear Indicator (GFI) 84.55
Overbought
Moving Average Converg./Diverg. (MACD) 1.44 Bearish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 72.98
Williams' Percentage Range (W%R) 3.50
Strong Overbought
Lane's Stochastic (%D-Slow) 84.34
Overbought
Greed/Fear Indicator (GFI) 81.18
Overbought
Moving Average Converg./Diverg. (MACD) -4.11
Trading Signals
Description Value Chart
Monthly Trendline Resistance 66.33
Upper Bollinger Band 58.53
Daily Stochastic Crossing 56.43
Price 56.13
Weekly Stochastic Crossing 55.77
Parabolic System 55.45
Weekly Trendline Resistance 54.88
20 Day Moving Average 53.18
50 Day Moving Average 50.58
Weekly Trendline Support 49.49
Monthly Trendline Support 49.03
Lower Bollinger Band 48.69
Sector and Industry
Description Name Rank
Sector Industrials 12
Industry Diversified Support Services 117
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 48.22
Low Date 02/21/2024
High 56.96
High Date 03/14/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Broken Resistance
Resistance 54.88
Support 49.49
Low 46.21
Low Date 01/05/2024
High 56.96
High Date 03/14/2024
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 66.33
Support 49.03
Low 42.41
Low Date 10/03/2023
High 56.96
High Date 03/14/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 94.77
High Date 07/17/2023
Low 42.41
Low Date 10/03/2023
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 161.12
High Date 11/16/2021
Low 42.41
Low Date 10/03/2023
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.