As of May 22, 2026, CPRT (Copart Inc.) is in a falling knife state on the weekly chart, with a confidence level of 74%. Key support is at $32.8 and key resistance at $40.5. Weekly downtrend persists; price consolidating near ~$33-34 after a sharp selloff from the ~$60s; RSI14 ~38 (weak momentum) and price remains below all key MAs.
Base-building / dead-cat-bounce: sellers pause near the ~$33 area; price grinds higher to retest the breakdown zone, but likely stalls below the EMA50 before any larger trend change. (Prob ~60%)
Trend continuation: weak consolidation breaks down and price makes a fresh leg lower toward prior demand, consistent with Elliott Wave downside continuation (likely wave 5 of the larger weekly decline). (Prob ~40%)
Weekly close below $32.80 would confirm continuation selling pressure
Two consecutive weekly closes back above $40.50 (EMA50) would invalidate the falling-knife state and shift to a reversal/base thesis
Start near current swing-low support (~$33) for a bounce; add on breakdown/flush into next demand; heavy add only if capitulation reaches ~$29 area (likely Fib extension / prior base zone).
Trim into the major MA cluster/overhead supply (EMA100/200 + SMAs near mid-$40s), then again into prior distribution ~$55-58; fully close into the prior weekly top zone ~$60-63 if reached.
As of May 22, 2026, CPRT (Copart Inc.) is in a falling knife state on the weekly chart with 74% confidence. Weekly downtrend persists; price consolidating near ~$33-34 after a sharp selloff from the ~$60s; RSI14 ~38 (weak momentum) and price remains below all key MAs.
On the weekly timeframe, CPRT has key support at $32.8 and key resistance at $40.5. The most likely scenario (bullish) targets $36.8 and $40.5, with a revert level at $34.0.
CPRT (Copart Inc.) is currently classified as falling knife on the weekly chart, with 74% confidence. Confirmation requires: Weekly close below $32.80 would confirm continuation selling pressure This would be invalidated by: Two consecutive weekly closes back above $40.50 (EMA50) would invalidate the falling-knife state and shift to a reversal/base thesis
The most likely scenario (bullish) targets $36.8 and $40.5, with a revert level at $34.0. The alternative scenario (bearish) targets $31.5 and $28.8.
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