COPART INC. - 1H - Technical analysis published on 01/25/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Bearish
Underlying:
Bullish
Technical indicators
11%
44%
44%
My opinion
Bullish above 48.17 USD
My targets
49.00 USD (+0.80%)
49.55 USD (+1.93%)
My analysis
With a bullish background trend, the price of COPART INC. is trying to inflate a little with a slight short-term relapse. At this stage, no trend reversal is in sight. Globally, buyers have the upper hand. Traders could allow themselves to trade long positions (at the time of purchase) as long as the price remains above the support located at 48.17 USD. A bullish break in the resistance located at 49.00 USD would boost the bullish momentum and fuel the basic trend. Then the price could move towards 49.55 USD. Then 49.88 USD by extension. It would be safer to wait for a bullish break in the resistance located at 49.00 USD before allowing yourself to re trade long positions (at purchase) on COPART INC.. PS: if there is a bearish break in the support located at 48.17 USD we suggest that you produce a new automated technical analysis. In fact, conditions should have changed. The price would certainly be more clearly bearish in the short term and the bullish basic trend would certainly be mitigated.
In the very short term, the general bullish opinion of this analysis is in opposition with technical indicators. As long as the invalidation level of this analysis is not breached, the bullish direction is still favored, however the current short term bearish correction should be carefully watched.
Force
0
10
0.4
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The COPART INC. rating is 48.61 USD. The price registered a decrease of -0.08% on the session with the lowest point at 48.59 USD and the highest point at 49.14 USD. The deviation from the price is +0.04% for the low point and -1.08% for the high point.48.59
49.14
48.61
A study of price movements over other periods shows the following variations:
Near a new HIGH record (5 years)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
New HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
New HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of COPART INC. in 1H shows an overall bullish trend. The signals given by moving averages are 67.86% bullish. This bullish trend could slow down given the slightly bearish signals currently being given by short-term moving averages. An assessment of moving averages reveals several bearish and bullish signals:
Bearish trend reversal : Moving Average 20
Type : Bearish
Timeframe : 1 hour
Bullish price crossover with adaptative moving average 50
Type : Bullish
Timeframe : 1 hour
An assessment of technical indicators shows a slightly bearish signal.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
Previous candle closed under Bollinger bands
Type : Neutral
Timeframe : 1 hour
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows a result that can have an impact on the price change:
Near support of channel
Type : Bullish
Timeframe : 1 hour
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 46.87 | 47.37 | 48.17 | 48.61 | 49.00 | 49.55 | 49.88 |
| Change (%) | -3.58% | -2.55% | -0.91% | - | +0.80% | +1.93% | +2.61% |
| Change | -1.74 | -1.24 | -0.44 | - | +0.39 | +0.94 | +1.27 |
| Level | Intermediate | Minor | Intermediate | - | Intermediate | Intermediate | Minor |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 46.84 | 47.70 | 48.17 | 49.03 | 49.50 | 50.36 | 50.83 |
| Camarilla | 48.28 | 48.41 | 48.53 | 48.65 | 48.77 | 48.89 | 49.02 |
| Woodie | 46.66 | 47.60 | 47.99 | 48.93 | 49.32 | 50.26 | 50.65 |
| Fibonacci | 47.70 | 48.21 | 48.52 | 49.03 | 49.54 | 49.85 | 50.36 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 46.18 | 46.75 | 47.72 | 48.29 | 49.26 | 49.83 | 50.80 |
| Camarilla | 48.28 | 48.42 | 48.56 | 48.70 | 48.84 | 48.98 | 49.12 |
| Woodie | 46.39 | 46.85 | 47.93 | 48.39 | 49.47 | 49.93 | 51.01 |
| Fibonacci | 46.75 | 47.34 | 47.70 | 48.29 | 48.88 | 49.24 | 49.83 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 44.04 | 45.56 | 47.28 | 48.80 | 50.52 | 52.04 | 53.76 |
| Camarilla | 48.11 | 48.41 | 48.70 | 49.00 | 49.30 | 49.59 | 49.89 |
| Woodie | 44.14 | 45.61 | 47.38 | 48.85 | 50.62 | 52.09 | 53.86 |
| Fibonacci | 45.56 | 46.80 | 47.56 | 48.80 | 50.04 | 50.80 | 52.04 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 47.65 | |
| MACD (12,26,9): | 0.1200 | |
| Directional Movement: | -3.59 | |
| AROON (14): | -35.72 | |
| DEMA (21): | 49.35 | |
| Parabolic SAR (0,02-0,02-0,2): | 49.75 | |
| Elder Ray (13): | -0.21 | |
| Super Trend (3,10): | 49.62 | |
| Zig ZAG (10): | 48.84 | |
| VORTEX (21): | 0.9400 | |
| Stochastique (14,3,5): | 8.27 | |
| TEMA (21): | 49.16 | |
| Williams %R (14): | -79.70 | |
| Chande Momentum Oscillator (20): | -0.30 | |
| Repulse (5,40,3): | -1.5700 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | 0.0800 | |
| Courbe Coppock: | 0.72 |
| MA7: | 48.72 | |
| MA20: | 48.07 | |
| MA50: | 48.84 | |
| MA100: | 46.73 | |
| MAexp7: | 48.97 | |
| MAexp20: | 49.11 | |
| MAexp50: | 48.70 | |
| MAexp100: | 48.36 | |
| Price / MA7: | -0.23% | |
| Price / MA20: | +1.12% | |
| Price / MA50: | -0.47% | |
| Price / MA100: | +4.02% | |
| Price / MAexp7: | -0.74% | |
| Price / MAexp20: | -1.02% | |
| Price / MAexp50: | -0.18% | |
| Price / MAexp100: | +0.52% |
Quotes :
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15 min delayed data
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NASDAQ Stocks
News
Don't forget to follow the news on COPART INC.. At the time of publication of this analysis, the latest news was as follows:
- Copart, Inc. Announces Senior Leadership Appointments
- Copart Announces Investment in Heavy Equipment Auction Company Purple Wave
- Hi Marley and Copart Announce Strategic Partnership to Support Auto Insurers
- Copart, Inc. Announces a Two-for-One Stock Split
- Copart, Inc. to Present at Baird’s Global Consumer, Technology & Services Conference
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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