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Archive
- 12/13/2024 -
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Cintas Corporation (CTAS) Technical Analysis
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| Summary:
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| | It was the negative week for the Cintas Corporation (CTAS). During the week, the CTAS dropped -12.51 points, or -5.59%, and closed at 211.20 on Friday, December 13, 2024. It was the worst weekly loss since September 13, 2024. Weekly volume was 302% 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 March 6, 2009 at 18.09 and reached 812.01 on September 3, 2024. CTAS gained -793.92 points, or -4388.72%, in 808 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The price is near the trend support (213.67) line. The support is usually stronger when technical indicators are oversold. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend support line in a long-term trend.
 Medium-term trend: [See CTAS medium-term trend chart]
A medium-term downtrend had started on September 3, 2024 at 812.01 and reached 196.42 on September 9, 2024. CTAS lost 615.59 points, or 75.81%, in 0 weeks. The chart has formed a Rectangle chart pattern. The downtrend support line (220.73) is broken, while daily and weekly technical indicators are oversold. Downtrend is exhausted and trend reversal is possible soon. 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 medium-term trend.
 Weekly Technical Indicators: [See CTAS weekly technical indicators chart]
Weekly Relative Strength Index and Williams' Percentage Range are strongly oversold. Use the Technical Stock Screener to see the list of stocks with weekly strongly oversold Relative Strength Index and 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 Relative Strength Index and Williams' Percentage Range help.
The weekly MACD line is below its signal line since September 6, 2024. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term downtrend is getting weak. Use the following link to access a MACD help.
 Short-term trend: [See CTAS short-term trend chart]
A short-term downtrend had started on November 26, 2024 at 228.10 and reached 206.34 on December 9, 2024. CTAS lost 21.76 points, or 9.54%, in 13 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.
 Daily Technical Indicators: [See CTAS daily technical indicators chart]
Daily Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Lane's Stochastic. Use the following link to access Lane's Stochastic help.
During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.
During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The distance between the Bollinger Bands is falling, and it was 11.08% on Friday. It is 70.35% lower than one year average. It indicates the period of low volatility of the stock price. 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.
During the last week, the price has crossed below the 50 Day Moving Average. Such crossover is considered a bearish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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