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Grocery Delivery Leader Setting up Run Higher

by | Aug 21, 2024

Instacart (CART) shares are curling higher off the recent bounce from its 200 day MA and now closing back over the 55 day MA as it forms a small flag and potential to regain its monthly value area as the MACD crosses bullish. A break above 34 can see a quick move back up to 35.50 and possibly up to 37 on a stronger move. CART has been a quiet name over the past several months but continues to hold above YTD VWAP near 32 and could see a boost into year end from lower rates as a consumer demand play.

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