Cintas Corporation Forecast and Stock Analysis
Technical CTAS stock analysis for Monday June 24, 2019.
Cintas Corporation gained 0.31% in the last trading day ( Monday, 24th Jun 2019 ), rising from $232.38 to $233.11 During day the stock fluctuated 1.06% from a day low at $231.27 to a day high of $233.73. The price has been going up and down for this period, and there has been a -0.61% loss for the last 2 weeks. Volume fell in the last day by -464 121 shares, and in total, 413 961 shares bought and sold for approximately $96.50 million. You should take into consideration that a falling volume on higher prices causes divergence and may be an early warning about possible changes for the next couple of days.
- 30 day high of the CTAS stock price was $237.55 and low was $219.71.
- 90 day high was $237.55 and low was $197.76.
- 52 week high for the Cintas Corporation - $237.55 and low - $155.98.
Cintas Corporation lies in the lower part of a narrow and strong rising trend in the short term, and this will normally pose a very good buying opportunity. A break down the bottom trend line at $231.37 will firstly indicate a slower raising rate, but may also be a early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 17.08% during the next 3 months and, with 90% probability hold a price between $270.88 and $284.03 at the end of this period.
There are mixed signals in the stock today. A sales signal was issued from a pivot top point on Wednesday June 19, 2019, which indicates further falls until a new bottom pivot has been found. Cintas Corporation holds a sales 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. On further gains, the stock will meet resistance from the short-term moving average at approximately $233.33. On a fall, the stock will find some support from the long-term average at approximately $226.80. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sales signal. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and may be an early warning. The stock should be watched closely.
Relative Strength Index (RSI)
RSI14 is 63 and the stock is currently not being overbought or oversold
Support & Resistance
Cintas Corporation finds support from accumulated volume at $232.63.
This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved $2.45 (1.06%) between high and low. For the last week, the stock has had a daily average volatility of 2.04%.
Our recommended stoploss: $224.26 (-3.80%) (This stock has low daily movements and this gives low risk. There is a sell signal from pivot top found 3 days ago.)
2.04 %Average volatility
Very Low Low Medium High Very High
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 this stock to perform well in the short-term.
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|CTAS $233.11 ($0.73 0.31%)|
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