Copart, Inc. (CPRT)

Purchase Info

Stock Price History

Stock Price Video

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Our View

Copart is an online vehicle auction and vehicle remarketing business. Its major customers include rental companies, insurance companies, fleet operators, and car dealerships. On the buy-side, Copart caters to retail buyers, vehicle importers, vehicle rebuilders, and dismantlers. The company benefits from the network effects of having buyers and a wide selection of vehicles. Having parking lots to hold a large inventory in critical urban pockets is another competitive advantage for Copart. Its long term prospects look bright.

The monthly long-term chart for Copart shows a strong uptrend for close to 5 years, since about 2016. While this timeframe trend has been upward, there was a significant pullback in February and March 2020 when the price fell by more than 45% and broke the bottom trend line. Since then, the price has bounced back up and has recently found support at the $104 level. This level is an important one as it was previously resistant and is now acting as a support. The following price target looks likely to be $128. A stop-loss can be placed at $102, the low of the previous month’s candle.

Position entered into our long-term tracking portfolio today. The entry point is at $113.42, and the stop-loss placed at $100.76, which is 11% below the entry point. The short-term to medium take profit at the top of the trend is set at $131.42, giving a profit of 16%.

Data Explained

On the video and images above you will see the reason this stock was selected.

You will see the image is of a monthly chart of the stock showing the long-term upwards trend formed over the years. You will also see the entry point and the where the stop loss is placed. For more information please watch the video given.

Once it is time to move the original stop loss up you will see an additional image.

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