Grocery Delivery Leader Setting up Run Higher
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.