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Advanced TA SearchArchive - 3/15/2024 - Sign In to see current Signals. |
Cintas Corporation (CTAS) Technical Analysis
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| Summary:
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| | It was a first positive week for the Cintas Corporation (CTAS). During the week, the CTAS climbed 2.01 points, or 0.32%, and closed at 627.38 on Friday, March 15, 2024. Weekly volume was 8% 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 636.37 on February 26, 2024. CTAS gained -292.51 points, or -85.07%, in 88 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend resistance line (568.49) 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 636.37 on February 26, 2024. CTAS gained -213.31 points, or -50.42%, in 57 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend resistance line (510.61) 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 while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic or strongly overbought weekly Williams' Percentage Range. 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 links to access Lane's Stochastic and Williams' Percentage Range 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 636.37 on February 26, 2024. CTAS gained -161.63 points, or -34.05%, in 152 days. The chart has formed a Rising Wedge chart pattern. The uptrend support line (635.98) is broken. A broken support is considered to be a long-term bearish signal. 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 support in a short-term trend. Daily Technical Indicators: [See CTAS daily technical indicators chart] Daily technical indicators are neutral. The daily MACD line is below its signal line since February 29, 2024. A Parabolic SAR (stop and reversal) indicator (630.9) comes close to the price (627.38). It indicates that the trend is getting weaker. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level. The distance between the Bollinger Bands (3.21%) is close to one year low (3.41%). It is 55.48% lower than one year average. It indicates the period of low volatility of the stock price, and it is considered a buy signal for the option traders. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
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