Earnings Play: Copart

How to play Copart's earnings

Stocks (1)

On Wednesday, after market, Copart (CPRT) is anticipated to release 3Q EPS of $0.63 compared to $0.66 the prior year on revenue of approximately $543.9M vs. $553.1M last year. The company provides online vehicle auctions and on May 18th, the company announced a new 45-acre location in Salt Lake City, Utah.  

From a technical point of view, Copart's stock price has been increasing within a rising wedge pattern that began in mid-March. Price appears to be pushing above resistance at the 200-day moving average and making a higher high compared to the last high on May 12th, a bullish signal. The RSI is holding above a rising trend line and currently sitting over 60. If price continues to rise we are likely to see a retest of resistance at the $88.00 level and a further push towards $95.00. If price falls below the 20-day moving average support we could see a fall towards $77.00 and possible acceleration down towards $68.00.        



Source: GAIN Capital, TradingView

More from Earnings

From time to time, GAIN Capital Australia Pty Ltd (“we”, “our”) website may contain links to other sites and/or resources provided by third parties. These links and/or resources are provided for your information only and we have no control over the contents of those materials, and in no way endorse their content. Any analysis, opinion, commentary or research-based material on our website is for information and educational purposes only and is not, in any circumstances, intended to be an offer, recommendation or solicitation to buy or sell. You should always seek independent advice as to your suitability to speculate in any related markets and your ability to assume the associated risks, if you are at all unsure. No representation or warranty is made, express or implied, that the materials on our website are complete or accurate. We are not under any obligation to update any such material.

As such, we (and/or our associated companies) will not be responsible or liable for any loss or damage incurred by you or any third party arising out of, or in connection with, any use of the information on our website (other than with regards to any duty or liability that we are unable to limit or exclude by law or under the applicable regulatory system) and any such liability is hereby expressly disclaimed.