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COPART INC (NASDAQ:CPRT) showing some interesting technicals. Here's why.

By Mill Chart

Last update: Sep 15, 2023

Our stock screener has identified COPART INC (NASDAQ:CPRT) as a potential breakout candidate. This technical breakout setup pattern occurs when the stock consolidates after a strong uptrend. While the actual breakout is uncertain, it may be worth keeping an eye on NASDAQ:CPRT.

CPRT Daily chart on 2023-09-15

Zooming in on the technicals.

At ChartMill, a crucial aspect of their analysis is the assignment of a Technical Rating to each stock. This rating, ranging from 0 to 10, is calculated daily by considering numerous technical indicators and properties.

Taking everything into account, CPRT scores 7 out of 10 in our technical rating. This is due to a consistent overall performance, although we see some doubts in the very recent evolution. In the medium time frame things are still looking good.

  • The long term trend is positive and the short term trend is neutral. The long term trend may just continue or reversal may be around the corner!
  • Looking at the yearly performance, CPRT did better than 93% of all other stocks. We also observe that the gains produced by CPRT over the past year are nicely spread over this period.
  • CPRT is one of the better performing stocks in the Commercial Services & Supplies industry, it outperforms 91% of 79 stocks in the same industry.
  • CPRT is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so CPRT is lagging the market slightly.
  • In the last month CPRT has a been trading in the 42.80 - 45.64 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
  • Volume is considerably higher in the last couple of days.

For an up to date full technical analysis you can check the technical report of CPRT

How does the Setup look for NASDAQ:CPRT

ChartMill takes into account not only the Technical Rating but also assigns a Setup Rating to each stock. This rating, on a scale of 0 to 10, reflects the degree of consolidation observed based on short-term technical indicators. Currently, NASDAQ:CPRT exhibits a 9 setup rating, indicating its consolidation status in recent days and weeks.

Besides having an excellent technical rating, CPRT also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 44.93. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 44.81, a Stop Loss order could be placed below this zone. Very recently a Pocket Pivot signal was observed. This is another positive sign.

Trading setups like NASDAQ:CPRT

One way to play this would be to wait for the actual breakout to happen and buy when the stock breaks out above the current consolidation zone. A possible place for a stop loss would be below this zone.

Important Note: The content of this article is not intended as trading advice. It is essential to perform your own analysis and exercise caution when making trading decisions. The article presents technical observations generated by automated analysis but does not guarantee any trading outcomes. Always trade responsibly and make independent judgments.

Every day, new breakout setups can be found on ChartMill in our Breakout screener.


This article should in no way be interpreted as advice in any way. The article is based on the observed metrics at the time of writing, but you should always make your own analysis and trade or invest at your own responsibility.



NASDAQ:CPRT (11/24/2023, 7:27:03 PM)

After market: 50.81 0 (0%)


-0.08 (-0.16%)


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