Copart, Inc. is an online auction and vehicle remarketing services company headquartered in Dallas, Texas. On January 31, 2023, Copart, Inc. stock closed at $66.61 per share. One-month return of CPRT was 7.47%, and its shares gained 1.03% of their value over the last 52 weeks. The company has a market capitalization of $31.726 billion.
CPRT is expected to report...
Nice trade setup, short term reversal of existing down trend in the daily gives a low risk entry on the long side.
Stop is tight, so either risk small at the stop or maybe consider using options to play this, keep in mind the box gives you an idea of the duration of a possible bullish swing here, use that as reference for option contract duration.
Best of...
The PEAD projected a Bearish outlook for $CPRT after a Negative over reaction following its earnings release placing the stock in drift C with an expected accuracy of 83.33%.
The PEAD projected a Bearish outlook for $CPRT after a Negative over reaction following its earnings release placing the stock in drift C with an expected accuracy of 80%.
The PEAD projected a Bullish outlook for $CPRT after a Positive Under reaction following its earnings release placing the stock in drift A with an expected accuracy of 83.33%.
I last spoke about this on October 29th as it was breaking out of the resistance at $152.85. At that time I did mention that this may end up consolidating for a while before it's ready to move higher.
Now CPRT is offering yet another entry and it seems like it's ready to move higher from here.
What's really interesting about this is that it consolidated while...
* Great earnings
* Very strong up trend
* High RS in the Industrials sector
* Breaking out of a ~3 month consolidation with higher than average volume (21.37%)
Trade idea:
* You can enter now as indicated since the price is very close to the broken level
* Or you can wait for a day or two to see how this plays out.
* Looking at the weekly chart it seems like...
Who They Are
Copart Inc (CPRT) is an online auction provider for used/damaged/stolen vehicles for mainly commercial entities. These vehicles are sold to a wide variety of end-users. CPRT makes money through fees from the auctions and from engaging in buying and selling themselves.
Are They Making Money
Their EBITDA(Adj) has been showing positive growth for...
CPRT has a nice setup to continue pushing higher. Nice long lower shadow at a key support level indicates that buyers are stepping in. $145 is my PT for Friday.
Steps used for deriving these picks:
Put following filters into tradingview screener with timeframe set to Monthly
Market Cap : Above 1B
Average Volume 90 days : 1M+
Return On Equity (TTM) : Above or Equal to 20
Return On Assets (TTM) : Above or Equal to 10
Return On Invested Capital (TTM) : Above or Equal to 5
Debt to Equity : Between...
CPRT made a nice 136% run from the bottom in March to the top in Nov. it’s now been basing for the better part of a year. I think it’s ready for the next leg higher.
$CPRT Retesting a strong resistance with increasing volume. We could likely see a breakout soon and leg up to a new ATH. Beat previous quarter earnings by over 36%. Will be watching this one closely
In the case of CPRT, 5 of my algorithms signaled a SELL on April 6, 2021. Equities nearly always obey the signal and move down, but sometimes it may continue to move up first. I really like this one because the RSI signaled SELL a few days prior and it is an early warning signal of near-term movement
I have placed two red boxes and two green boxes on the chart....
Entry: 112.10 or a lower price
Stop: 105.00
Target: 132.00
Good risk/reward reversal setup to the upside after trendline break looking for price to head back toward the range (rectangle)
