Copart is a very strong company with financial fundamentals, as earnings approach we are a little worried that the stock is starting to get tired and losing momentum. Indicators are all quite bearish and a break of trend could result in quite a sizeable correction, on the other hand positive results could aid the break above resistance and avoid the dreaded double top . We have included on the chart 2 possible trades to cover either scenario, our bias is to the bearish side due only to the chart techinaly.
Average Analysts price target $61.44 Average Analysts recommendation Hold
News: $CPRT Copart Continues to Grow in Texas with El Paso, Texas Capacity Expansion
DALLAS , Jan. 24, 2019 /PRNewswire/ -- Copart, Inc. (NASDAQ:CPRT), a global online vehicle auction company , expanded its El Paso, Texas location at 501 Valley Chili Road, Anthony, Texas 79821 by increasing vehicle storage by 10 additional acres to accommodate growing business demand...
Copart $CPRT Sinks After Earnings, Know This Trade Level
Copart Inc (NASDAQ:CPRT) is an online seller of salvaged vehicles on behalf of banks, finance companies, charities and dealers. Earlier today, the company reported earnings that are not being well received by investors. Copart Inc shares are declining lower by more than 16.0 percent to $53.30 a share. This morning, the stock has been defended around its 50-week moving average which is at $50.24. A daily chart close below this critical support level will indicate further downside for the stock. The next major support level that traders and investors should watch will be around the $47.00 area. This is where the stock was defended in March 2018 and was followed by a break-out to new highs. Often, past breakout levels will serve as excellent support when retested.
~ Monday! $CPRT ~ Earnings posted, pending or coming soon! In Charts and Links Below!
~ $CPRT ~ Earnings expected on Monday * Want more like this? Search Keyword:MACMONEY >>> http://tinyurl.com/MACMONEY <<< One or more of many earnings sites has alerted this security has or will be posting earnings on or around the day of this message.
The Company provides vehicle suppliers, insurance companies, with a range of remarketing services to process & sell salvage vehicles online through the Company's Virtual Bidding Second Generation Internet auction-style sales technology.
4665 Business Center Drive,
CEO: Willis J. Johnson
Telephone: (707) 639-5000
FAX: (707) 644-7355
Share structure: O/S = 89.05 m / Float = 72.65 m