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Uptrend SupportArchive
- 12/20/2024 -
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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 -24.30 points, or -11.51%, and closed at 186.90 on Friday, December 20, 2024. It was the worst weekly loss since September 13, 2024. Weekly volume was 574% 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 (213.92) 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 181.20 on December 20, 2024. CTAS lost 630.81 points, or 77.69%, in 15 weeks. The chart has formed a Rectangle chart pattern. The downtrend support line (222.52) 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 Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with weekly strongly oversold Williams' Percentage Range. Weekly Relative Strength Index has bullish divergence. Use the following links to access the Relative Strength Index help, or use the Technical Stock Screener to see the list of stocks with weekly Relative Strength Index bullish 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 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 December 6, 2024 at 225.03 and reached 181.20 on December 20, 2024. CTAS lost 43.83 points, or 19.48%, in 14 days. The price is now at the 13.00% retracement level.
 Daily Technical Indicators: [See CTAS daily technical indicators chart]
Daily Relative Strength Index and Lane's Stochastic are oversold while Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold daily Relative Strength Index and Lane's Stochastic or strongly oversold daily Williams' Percentage Range. Use the following link to access Lane's Stochastic help.
The daily MACD line is below its signal line since December 9, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term downtrend is getting stronger.
 Candlestick pattern: [See CTAS candlestick chart pattern]
On Friday the chart has formed a Bearish Thrusting Candlestick pattern. This pattern occurs in a downtrend and it shows a rally failure in a down market. This is a weak continuation pattern. The reliability of the Bearish Thrusting pattern is low. Use the Technical Stock Screener to see the list of stocks that had a Bearish Thrusting Candlestick pattern during the last week.
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