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Copart Inc Set to Possibly Rebound After Yesterday's Selloff of 1.80%

By David Diaz

Copart Inc (NASDAQ:CPRT) traded in a range yesterday that spanned from a low of $76.55 to a high of $78.00. Yesterday, the shares fell 1.8%, which took the trading range below the 3-day low of $77.94 on volume of 609,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, shares of Copart Inc have traded between a low of $55.69 and a high of $104.88 and are now at $77.11, which is 38% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 3%.

SmarTrend recommended that subscribers consider buying shares of Copart Inc on April 9th, 2020 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $75.29. Since that recommendation, shares of Copart Inc have risen 4.3%. We continue to monitor CPRT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders copart inc

Ticker(s): CPRT