To The Moon

$CART 20250117 40.0 CALL$  

$Instacart, Inc. (Maplebear Inc.)(CART)$  

Instacart (CART) Price Analysis (as of September 24, 2024)

**Current Price:** $40.08

Yesterday, the stock briefly dipped below $39.20 on two occasions, with a drop of over 2.5% during both the opening and the second half of the trading day. However, it staged a modest recovery 15 minutes before the close, finishing at $40.08, down 0.35%.

**Price Movement:**

After hitting $42.58 on September 20, 2024, Instacart's stock retraced to $40.08, following a sharp $6.26 rally between September 12-20, 2024. The surge in buying, followed by profit-taking, pushed trading volume to 24 million shares on September 20.

**RSI Trend:**

The Relative Strength Index (RSI) reached an overbought level of 80.89 on September 20 but has since cooled to 72.84 by September 23. A drop below the 70 threshold could signal a potential price correction.

**Moving Averages:**

- **50-Day MA:** $36.90

- **200-Day MA:** $34.55

Instacart remains above both moving averages, indicating a long-term uptrend, but the recent price action has pulled it closer to the 50-day MA.

**Resistance Levels:**

- **Resistance 1:** $42.58 (recent high)

- **Resistance 2:** $45.00 (psychological barrier)

**Support Levels:**

- **Support 1:** $40.00 (near-term)

- **Support 2:** $36.90 (50-day MA)

**Outlook and Strategy:**

- **Bullish Scenario:** If the RSI continues to ease and the stock holds at the $40 support level, the uptrend could resume, with targets at $42.58 and $45.00.

- **Bearish Scenario:** A further RSI drop and a break below $40 may lead to a decline toward the 50-day MA at $36.90, with the $36.00-$37.00 range serving as key support.

**Conclusion:**

Instacart remains in a medium- to long-term uptrend, but short-term overbought conditions are present. Traders may want to wait for a clearer reversal signal before initiating long positions, considering RSI levels, resistance points, and support zones.