Cintas Corporation Stock Forecast
Green day on Thursday for Cintas Corporation stock after gaining 0.169%
(Updated on Apr 25, 2024)
The Cintas Corporation stock price gained 0.169% on the last trading day (Thursday, 25th Apr 2024), rising from $664.13 to $665.25. During the last trading day the stock fluctuated 1.37% from a day low at $658.58 to a day high of $667.60. The price has been going up and down for this period, and there has been a -0.88% loss for the last 2 weeks. Volume fell on the last day by -460 thousand shares and in total, 287 thousand shares were bought and sold for approximately $190.62 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the lower part of a strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $656.98 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 11.56% during the next 3 months and, with a 90% probability hold a price between $732.93 and $791.59 at the end of this 3-month period.
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CTAS Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Thursday, March 28, 2024, and so far it has fallen -3.17%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The Cintas Corporation stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $664.71 and $654.84. A breakdown below any of these levels will issue sell signals. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Cintas Corporation stock
Cintas Corporation finds support from accumulated volume at $664.13 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $9.02 between high and low, or 1.37%. For the last week the stock has had daily average volatility of 1.09%.
Our recommended stop-loss: $640.08 (-3.78%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 19 days ago.)
Trading Expectations (CTAS) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Cintas Corporation to open at $663.81, and during the day (based on 14 day Average True Range), to move between $655.38 and $675.12, which gives a possible trading interval of +/-$9.87 (+/-1.48%) up or down from last closing price. If Cintas Corporation takes out the full calculated possible swing range there will be an estimated 2.97% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $666.33 (0.16%) than the support at $664.13 (0.17%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Cintas Corporation stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Cintas Corporation stock to perform well in the short-term.
Current score: 2.296 Buy Candidate Unchanged
Predicted Opening Price for Cintas Corporation of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $663.81 ( 0.216%) | $665.25 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CTAS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 672.83 | 1.14 % | |
| R2 | 669.38 | 0.621 % | ||
| R1 | 667.26 | 0.301 % | ||
| Current price: | 665.25 | |||
| Support | S1 | 660.36 | -0.734 % | |
| S2 | 658.24 | -1.05 % | ||
| S3 | 654.79 | -1.57 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 687.03 | 3.27 % | |
| R2 | 685.64 | 3.07 % | ||
| R1 | 666.33 | 0.162 % | ||
| Current price | 665.25 | |||
| Support | S1 | 664.13 | -0.168% | |
| S2 | 627.38 | -5.69% | ||
| S3 | 604.57 | -9.12% |
CTAS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 14, 2024 | May 14, 2024 | Jun 14, 2024 | $1.35 | 0.203% |
| 2 | Jan 16, 2024 | Feb 14, 2024 | Mar 15, 2024 | $1.35 | 0.215% |
| 3 | Oct 24, 2023 | Nov 14, 2023 | Dec 15, 2023 | $1.35 | 0.242% |
| 4 | Jul 25, 2023 | Aug 14, 2023 | Sep 15, 2023 | $1.35 | 0.262% |
| 5 | Apr 11, 2023 | May 12, 2023 | Jun 15, 2023 | $1.15 | 0.234% |
FAQ
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