Car Auction Company Nears Annual Uptrend Mark

Yesterday, we looked at a Daily Price Chart of BMC Stock Holdings, Inc. and noted that it was on a pullback from being overbought.

Today’s chart is for Copart, Inc. (NYSE: CPRT).

Copart, Inc. provides online auctions and vehicle remarketing services. It offers a range of services for processing and selling vehicles over the Internet through its Virtual Bidding Third Generation Internet auction-style sales technology to vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as for individual owners.

Now, the Daily Price Chart below shows that CPRT has been making a series of 52-Week Highs since May 2019.

chart

Plain and simple… a stock just doesn’t hit a new 52-Week High unless it is in a very powerful up trend.

And because there are always price retracements during a stock’s uptrend, that’s what we watch for.

CPRT experienced periodic price pullbacks during its strong advance since May.

Traders can get a lower risk entry point after a 3 to 5% price retracement as the stock normally resumes its price up trend after such retracements.

We’ll be sure to continue following Copart, Inc. as it climbs to new heights, and watching for price retracements.

Maximizing Our Profit Potential

Additionally, we’d like to talk about how a previous Chart of the Day stock has done…

On December 3rd, we highlighted SPDR S&P Semiconductor ETF (NYSE: XSD), noting that XSD had been trading in a bullish trend since June.

If you happened to have purchased XSD shares on that day, you’d already be up 10.22%.

But… if you had purchased the right option contract, you would be up 95.93% in less than two months’ time!

That’s after only one trade.

In our elite research trading and training service. PowerTrend Options, chances like these are abundant. I firmly believe that choosing the right option can completely change your life.

In fact, that’s the whole thesis of that options research service — the right trade has the power to set you on the path to living the life of your dreams.

But we know that some people like to walk before they run… and so we designed a class just for them, called the Thunderbird Options Course. Complete with syllabus, videos, and quizzes. Check it out if you haven’t yet!

Best Regards,

Chuck Hughes
Editor, Chart Of The Day

Chuck Hughes

Written By Chuck Hughes

Before Chuck Hughes won 10 Trading Championships, he was an accomplished Air Force pilot. In fact, he credits his success as a stock and options trader to his disciplined upbringing and career. When he was deciding between a career in the Navy and a career in the Air Force, the Navy told him he’d only have a 33% chance of flying jets. The Air Force gave him 100%. He liked those odds better. 35 years ago, Chuck had a wife, a young daughter, a son on the way, and a huge mortgage to afford. He didn’t want to give up on his lifelong dream and stop flying for a major commercial airline. He knew he needed to supplement his income during the 15 days a month he wasn’t flying. So he used his experience in discipline and math, and his understanding of finance and the stock markets (which he’d always been interested in,) and opened a $4,600 trading account. He made over $460,000 in profits his first two years of trading, and he hasn’t looked back since. When he was diagnosed with Meniere’s disease 15 years later, which commonly leads to vertigo…He knew his career as a pilot wouldn’t last much longer with those odds. But he didn’t have to scurry to find another gig, or panic about how his family would eat… He’d spent the last 15 years perfecting his system and raking in cash. As an options trader, Chuck does not let his emotions get in the way of his trading strategy. He adheres to disciplined and methodical options and stock trades. Because he respects the options game so highly, and understands the true freedom that financial solvency can bring, Chuck was able to design and refine his system and win those 10 Trading Championships. Put simply, Chuck Hughes’ trading strategies work, and in all types of market conditions. They’ve worked throughout the bull, bear, and flat markets America has seen in the last 30 years. Chuck Hughes has spent that time building a reputation as one of the most trustworthy options traders in the industry. His publishing group Legacy Publishing LLC was one of the few trading groups on the planet to have correctly predicted and profited from the 2008 financial crash .As a published author 16 times over, a 10-time Trading Championship winner, and an options-trading teacher for 25 years, he’s learned to trade and teach without an ego.