How To Trade Copart CPRT

Source: Stock Traders Daily

Longer Term Trading Plans for CPRT
  • Buy CPRT over 122.10 target n/a stop loss @ 121.75. Details
  • The technical summary data tells us to buy CPRT near 122.10, but there is no current upside target from the summary table. In this case we should wait until either an update to the summary table has been made (which usually happens at the beginning of every trading day), or until the position has been stopped. The data does tell us to set a stop loss 121.75 to protect against excessive loss in case the stock begins to move against the trade. 122.10 is the first level of support below 129.22, and by rule, any test of support is a buy signal. In this case, if support 122.10 is being tested, a buy signal would exist.

  • NONE . Details
  • NONE .
    There are no current resistance levels from the summary table, and therefore there are no Short resistance Plans which tell us to short upon tests of resistance. Resistance levels have broken higher and unless the stock reverses lower and below support levels again short positions look risky.

Swing Trading Plans for CPRT
  • Buy CPRT over 132.63, target n/a, Stop Loss @ 132.25 Details
  • If 132.63 begins to break higher, the technical summary data tells us to buy CPRT just over 132.63, with an upside target of n/a. The data also tells us to set a stop loss @ 132.25 in case the stock turns against the trade. 132.63 is the first level of resistance above 129.22, and by rule, any break above resistance is a buy signal. In this case, 132.63, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

  • Short CPRT near 132.63, target 128.07, Stop Loss @ 133.01. Details
  • The technical summary data is suggesting a short of CPRT if it tests 132.63 with a downside target of 128.07. We should have a stop loss in place at 133.01 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 132.63, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for CPRT
  • Buy CPRT over 130.29, target 132.63, Stop Loss @ 129.99 Details
  • If 130.29 begins to break higher, the technical summary data tells us to buy CPRT just over 130.29, with an upside target of 132.63. The data also tells us to set a stop loss @ 129.99 in case the stock turns against the trade. 130.29 is the first level of resistance above 129.22, and by rule, any break above resistance is a buy signal. In this case, 130.29, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

  • Short CPRT near 130.29, target 128.07, Stop Loss @ 130.59. Details
  • The technical summary data is suggesting a short of CPRT if it tests 130.29 with a downside target of 128.07. We should have a stop loss in place at 130.59 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 130.29, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

CPRT Ratings for August 06:

Term →Near Mid Long
Rating Strong Strong Weak
P1 0 0 98.78
P2 130.29 128.07 110.37
P3 133.47 132.63 122.10

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CPRT Long Term Analysis for August 6 2022


CPRT Swing Trading Analysis for August 6 2022


CPRT Day Trading Analysis for August 6 2022

This report provides trading strategies for Copart (NASDAQ: CPRT) while incorporating risk controls.

Warning:

This is a static report, the data below was valid at the time of the publication, but support and resistance levels for CPRT change over time, so the report should be updated regularly.  Real Time updates are provided to subscribers.  Unlimited Real Time Reports.

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Instructions:

The rules that govern the data in this report are the rules of Technical Analysis.  For example, if CPRT is testing support buy signals surface, and resistance is the target.  Conversely, if resistance is being tested, that is a sign to control risk or short, and support would be the downside target accordingly.  In each case, the trigger point is designed to be both an ideal place to enter a position (avoid trading in the middle of a trading channel), and it acts as a level of risk control too.

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