Copart, Inc. (CPRT) rallied strongly in 2016, also breaking out of a long-term range. In 2017 the price hit a high of $59.86 on Feb. 16. The price has barely started to pull back, but when it does, the first potential buying region is near $56. That's where a trendline extending back to June intersects. Wait for the price to pause and rally off the $56 area before buying. This way a stop loss can be placed just below the recent swing low. June, September, and November are all examples where the price paused near support and then rallied. The price target on this short-term trade is $60.75. Note that Copart has earnings on Feb. 21.
Read more: Buy These Uptrending Stocks on the Pullback (LRCX, CPRT) | Investopedia http://www.investopedia.com/stock-analysis/cotd/022017/buying-these-uptrending-stocks-pullback-lrcx-cprt-lrcx-cprt-gwr.aspx#ixzz4ZKR8WWsv
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