Cintas Corporation Stock Forecast

Hold candidate since Dec 03, 2024 Gain 0.43%

The Cintas Corporation stock price gained 0.427% on the last trading day (Wednesday, 4th Dec 2024), rising from $222.65 to $223.60. During the last trading day the stock fluctuated 1.06% from a day low at $221.86 to a day high of $224.22. The price has risen in 8 of the last 10 days and is up by 2.58% over the past 2 weeks. Volume fell on the last day by -322 thousand shares and in total, 940 thousand shares were bought and sold for approximately $210.17 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 middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -27.92% during the next 3 months and, with a 90% probability hold a price between $1.19 and $433.64 at the end of this 3-month period.

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CTAS Signals & Forecast

The Cintas Corporation stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $224.16. On a fall, the stock will find some support from the long-term average at approximately $216.45. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. A buy signal was issued from a pivot bottom point on Wednesday, September 18, 2024, and so far it has risen 11.03%. Further rise is indicated until a new top pivot has been found. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Cintas Corporation stock

On the downside, the stock finds support just below today's level from accumulated volume at $209.14 and $204.16. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Cintas Corporation finds support just below today's level at $209.14. If this is broken, then the next support from accumulated volume will be at $204.16 and $202.35.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $2.36 (1.06%) between high and low. For the last week, the stock has had daily average volatility of 1.71%.

Our recommended stop-loss: $215.77 (-3.50%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 54 days ago.)

Trading Expectations (CTAS) For The Upcoming Trading Day Of Thursday 5th

For the upcoming trading day on Thursday, 5th we expect Cintas Corporation to open at $223.23, and during the day (based on 14 day Average True Range), to move between $218.76 and $228.44, which gives a possible trading interval of +/-$4.84 (+/-2.17%) up or down from last closing price. If Cintas Corporation takes out the full calculated possible swing range there will be an estimated 4.33% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $223.90 (0.13%) than the support at $209.14 (6.47%), 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?

Cintas Corporation holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.471 Hold/Accumulate Unchanged

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Predicted Fair Opening Price

Predicted fair opening price on December 5, 2024 - $223.23 ( 0.167%).