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- 4/5/2024 -
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Cintas Corporation (CTAS) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the Cintas Corporation (CTAS). During the week, the CTAS dropped -13.34 points, or -1.94%, and closed at 673.69 on Friday, April 5, 2024. It was the worst weekly loss since January 5, 2024. Weekly volume was 18% above average.
CTAS is a member of Industrials Sector. Industrials is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 Long-term trend: [See CTAS long-term trend chart]
A long-term uptrend had started on June 16, 2022 at 343.86 and reached 704.84 on March 27, 2024. CTAS gained -360.98 points, or -104.98%, in 92 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend resistance line (575.83) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.
 Medium-term trend: [See CTAS medium-term trend chart]
A medium-term uptrend had started on January 20, 2023 at 423.06 and reached 704.84 on March 27, 2024. CTAS gained -281.78 points, or -66.61%, in 61 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend resistance line (515.07) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a medium-term trend.
 Weekly Technical Indicators: [See CTAS weekly technical indicators chart]
Weekly Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic. Weekly Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with weekly Lane's Stochastic and MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Lane's Stochastic help.
The weekly MACD line is above its signal line since November 3, 2023. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.
Short-term trend: [See CTAS short-term trend chart]
A short-term uptrend had started on September 27, 2023 at 474.74 and reached 704.84 on March 27, 2024. CTAS gained -230.10 points, or -48.47%, in 182 days. The chart has formed a Rising Wedge chart pattern. The uptrend resistance line (644.39) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a short-term trend.
 Daily Technical Indicators: [See CTAS daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is above its signal line since March 20, 2024. This is an indication that the short-term trend is up.
 Candlestick pattern: [See CTAS candlestick chart pattern]
On Friday the chart has formed a Bullish Harami Candlestick pattern. A Bullish Harami indicates that the bearish trend may be reversing, it signals that it's a good time to enter into a long position. Use the Technical Stock Screener to see the list of stocks that had a Bullish Harami Candlestick pattern during the last week.
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