COPART INC. - 1H - Technical analysis published on 04/15/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
17%
56%
28%
My opinion
Bearish under 55.74 USD
My targets
54.75 USD (-1.12%)
54.19 USD (-2.13%)
My analysis
COPART INC. is part of a very strong bearish trend. Traders may consider trading only short positions (for sale) as long as the price remains well below 55.74 USD. The next support located at 54.75 USD is the next bearish objective to target. A bearish break of this support would revive the bearish momentum. The bearish movement could then continue towards the next support located at 54.19 USD. Below this support, sellers could then target 53.71 USD. With the current pattern, you will need to monitor for possible bearish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bearish trend. Trying to profit from the purchase of these possible corrections may seem risky.
Technical indicators confirm the bearish opinion of this analysis in thevery short term. However, be careful of excessive bearish movements. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to small rebounds in the opposite direction.
Force
0
10
7.3
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
COPART INC. rating 55.37 USD. The price is lower by -0.02% since the last closing and was between 55.33 USD and 56.26 USD. This implies that the price is at +0.07% from its lowest and at -1.58% from its highest.55.33
56.26
55.37
A bullish gap was detected at the opening by the Central Gaps scanner. There are a lot of buyers and they have the upper hand in the very short term.
Opening Gap UP
Type : Bullish
Timeframe : Openning
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
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of COPART INC. in 1H shows a overall strongly bearish trend. The signals given by moving averages are 92.86% bearish. This strong bearish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
In fact, 10 technical indicators on 18 studied are currently bearish. Central Indicators, the scanner specialised in technical indicators, has identified these signals:
Price is back under the pivot point
Type : Bearish
Timeframe : 1 hour
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
Williams %R indicator is back under -50
Type : Bearish
Timeframe : 1 hour
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 54.19 | 54.75 | 55.34 | 55.37 | 55.74 | 56.20 | 56.99 |
| Change (%) | -2.13% | -1.12% | -0.05% | - | +0.67% | +1.50% | +2.93% |
| Change | -1.18 | -0.62 | -0.03 | - | +0.37 | +0.83 | +1.62 |
| Level | Minor | Minor | Major | - | Minor | Minor | Intermediate |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 54.36 | 54.71 | 55.05 | 55.40 | 55.74 | 56.09 | 56.43 |
| Camarilla | 55.19 | 55.25 | 55.32 | 55.38 | 55.44 | 55.51 | 55.57 |
| Woodie | 54.35 | 54.71 | 55.04 | 55.40 | 55.73 | 56.09 | 56.42 |
| Fibonacci | 54.71 | 54.98 | 55.14 | 55.40 | 55.67 | 55.83 | 56.09 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 52.92 | 53.99 | 54.69 | 55.76 | 56.46 | 57.53 | 58.23 |
| Camarilla | 54.89 | 55.06 | 55.22 | 55.38 | 55.54 | 55.71 | 55.87 |
| Woodie | 52.73 | 53.90 | 54.50 | 55.67 | 56.27 | 57.44 | 58.04 |
| Fibonacci | 53.99 | 54.67 | 55.09 | 55.76 | 56.44 | 56.86 | 57.53 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 48.86 | 50.77 | 54.34 | 56.25 | 59.82 | 61.73 | 65.30 |
| Camarilla | 56.41 | 56.92 | 57.42 | 57.92 | 58.42 | 58.93 | 59.43 |
| Woodie | 49.70 | 51.19 | 55.18 | 56.67 | 60.66 | 62.15 | 66.14 |
| Fibonacci | 50.77 | 52.86 | 54.15 | 56.25 | 58.34 | 59.63 | 61.73 |
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): | 40.31 | |
| MACD (12,26,9): | -0.2300 | |
| Directional Movement: | -8.91 | |
| AROON (14): | 7.15 | |
| DEMA (21): | 55.44 | |
| Parabolic SAR (0,02-0,02-0,2): | 55.07 | |
| Elder Ray (13): | -0.06 | |
| Super Trend (3,10): | 56.17 | |
| Zig ZAG (10): | 55.41 | |
| VORTEX (21): | 0.8900 | |
| Stochastique (14,3,5): | 37.86 | |
| TEMA (21): | 55.42 | |
| Williams %R (14): | -71.85 | |
| Chande Momentum Oscillator (20): | -0.52 | |
| Repulse (5,40,3): | -1.3800 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0600 | |
| Courbe Coppock: | 1.54 |
| MA7: | 56.05 | |
| MA20: | 56.71 | |
| MA50: | 53.99 | |
| MA100: | 51.38 | |
| MAexp7: | 55.54 | |
| MAexp20: | 55.75 | |
| MAexp50: | 56.17 | |
| MAexp100: | 56.36 | |
| Price / MA7: | -1.21% | |
| Price / MA20: | -2.36% | |
| Price / MA50: | +2.56% | |
| Price / MA100: | +7.77% | |
| Price / MAexp7: | -0.31% | |
| Price / MAexp20: | -0.68% | |
| Price / MAexp50: | -1.42% | |
| Price / MAexp100: | -1.76% |
Quotes :
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15 min delayed data
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NASDAQ Stocks
News
The last news published on COPART INC. at the time of the generation of this analysis was as follows:
- Copart Appoints Jeff Liaw as CEO and Director and Jay Adair as Executive Chairman
- 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
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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