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Advanced TA SearchArchive
- 5/24/2024 -
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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 -9.33 points, or -1.35%, and closed at 682.81 on Friday, May 24, 2024. Weekly volume was -9% below average.
 Long-term trend: [See CTAS long-term trend chart]
A long-term uptrend had started on June 16, 2022 at 343.86 and reached 705.74 on May 23, 2024. CTAS gained -361.88 points, or -105.24%, in 101 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend resistance line (594.18) 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 705.74 on May 23, 2024. CTAS gained -282.68 points, or -66.82%, in 69 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend resistance line (541.84) 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 Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought Williams' Percentage Range. 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 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. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. 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 May 2, 2024 at 648.65 and reached 705.74 on May 23, 2024. CTAS gained -57.09 points, or -8.80%, in 21 days. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level.
 Daily Technical Indicators: [See CTAS daily technical indicators chart]
Daily technical indicators are neutral.
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 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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