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Look for Shares of Copart Inc to Potentially Pullback after Yesterday's 2.37% Rise

By James Quinn

Copart Inc (NASDAQ:CPRT) traded in a range yesterday that spanned from a low of $82.18 to a high of $83.45. Yesterday, the shares gained 2.4%, which took the trading range above the 3-day high of $81.46 on volume of 663,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Copart Inc has traded in a range of $55.69 to $104.88 and is now at $83.20, 49% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 1.3%.

SmarTrend is tracking the current trend status for Copart Inc and will alert subscribers who have CPRT in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders copart inc

Ticker(s): CPRT