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Quarterly Price vs. Trendline:Broken Support
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Trend Line Resistance Trend Line Support Resistance.

Trendline support resistance provides an excellent buy/sell signals in trending market. On an uptrend, buy around the support trend line level and place a stop order below the trend line support. Take profit on the trend line resistance level. Reverse the technique in a downtrend. Short around the resistance trend line level and place a stop order above the trend line resistance.

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- 3/15/2024 -
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Cintas Corporation (CTAS) Technical Analysis

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Summary:
Weekly :Overbought sectorLane's Stochastic is overboughtWilliams' Percentage Range is strongly overboughtBroken trend resistance lineBroken trend resistance line
Daily :Broken trend support lineA Parabolic SAR indicator is below and near the priceThe Bollinger Bands are historically close together
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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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 41.08
Williams' Percentage Range (W%R) 30.70
Lane's Stochastic (%D-Slow) 61.45
Greed/Fear Indicator (GFI) 57.29
Moving Average Converg./Diverg. (MACD) 5.43
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 74.35
Williams' Percentage Range (W%R) 5.50
Strong Overbought
Lane's Stochastic (%D-Slow) 86.54
Overbought
Greed/Fear Indicator (GFI) 81.09
Overbought
Moving Average Converg./Diverg. (MACD) 30.35
Trading Signals
Description Value Chart
Weekly Trendline Resistance 645.51
Weekly Trendline Support 635.98
Upper Bollinger Band 634.04
Parabolic System 630.90
Weekly Stochastic Crossing 630.76
Price 627.38
Daily Stochastic Crossing 626.62
20 Day Moving Average 626.18
Lower Bollinger Band 613.89
50 Day Moving Average 611.70
Monthly Trendline Resistance 585.39
Quarterly Trendline Support 568.49
Quarterly Trendline Resistance 563.46
Monthly Trendline Support 510.61
Sector and Industry
Description Name Rank
Sector Industrials 12
Industry Diversified Support Services 117
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 636.37
High Date 02/26/2024
Low 616.62
Low Date 03/11/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Support
Resistance 645.51
Support 635.98
Low 474.74
Low Date 09/27/2023
High 636.37
High Date 02/26/2024
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Broken Resistance
Resistance 585.39
Support 510.61
Low 423.06
Low Date 01/20/2023
High 636.37
High Date 02/26/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Resistance
Resistance 563.46
Support 568.49
Low 343.86
Low Date 06/16/2022
High 636.37
High Date 02/26/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 18.09
Low Date 03/06/2009
High 636.37
High Date 02/26/2024
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.