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Advanced TA SearchArchive
- 9/27/2024 -
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Copart (CPRT) Technical Analysis
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| Summary:
| | Weekly :   | | Daily :
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| | It was a third consecutive positive week for the Copart (CPRT). During the week, the CPRT gained 0.62 points, or 1.21%, and closed at 52.06 on Friday, September 27, 2024. Weekly volume was -20% below average.
CPRT is a member of Industrials Sector. Industrials is the second most overbought sector. CPRT is a member of Diversified Support Services Industry. Diversified Support Services is the seventh most oversold industry. 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 chart has formed a Falling Wedge chart pattern. The downtrend resistance line (27.83) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. CPRT may retest the broken resistance line. It is considered to be a support line now. 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 long-term trend.
 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 uptrend support line (56.91) is broken. A broken support is considered to be a long-term bearish signal. 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 support in a medium-term trend.
 Weekly Technical Indicators: [See CPRT weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since July 19, 2024. The distance between MACD and the signal line is low and getting smaller. 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 September 11, 2024 at 48.05 and reached 52.70 on September 26, 2024. CPRT gained -4.65 points, or -9.68%, in 15 days. The price is now at the 13.76% retracement level.
 Daily Technical Indicators: [See CPRT daily technical indicators chart]
Daily Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Lane's Stochastic. 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 daily MACD line is above its signal line since September 18, 2024. This is an indication that the short-term trend is up.
During the last week, the price has advanced above the 50 Day Moving Average. Such crossover is considered a bullish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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