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- 1 CTAS stock price has been slipping over the last few trading sessions and is trying to sustain above the $515 mark.
- 2 Cintas stock price is trading above 20, 50, 100 and 200-days daily moving averages.
- 3 Cintas Corporation (NASDAQ: CTAS) stock gained 13% year to date.
CTAS stock price is trying to sustain above $515 mark but sellers are pulling CTAS shares downwards. Volume change is above average which signifies the accumulation rate of sellers on Friday’s trading session.
Cintas stock price may bounce back from the current level and remain above the $515 mark on Monday. Analysts believe that buyers may accumulate to push the CTAS shares towards the $525 recovery level. Cintas Corporation’s stock price has been gaining since August after getting support from the $480 level.
CTAS stock price was at $515.08 and lost 1.59% of its market capitalization during Friday’s trading session. Trading volume was above average and under full control of the sellers. Nevertheless, buyers need to accumulate on Monday’s trading session, so that CTAS shares revert back towards the recovery level.
Is CTAS Stock a Buy?
CTAS stock price has gained up to the $525 recovery level after getting support from the $493 support zone. Meanwhile, Cintas stock is slipping after testing the $525 level and is currently trying to sustain above $515 level. Meanwhile, Cintas stock price is trading above 20, 50, 100 and 200-days daily moving averages.
CTAS stock price gained around 3.26% in a week and 5.16% in a month. Moreover, Cintas Coroporation’s shares surged around 3.49% in the last three months and 18.24% in the last six months. In addition, Cintas stock price managed to gain around 13.47% year to date. This confirms that in a longer time frame, Cintas has performed excellently.
Technical indicators highlight the downtrend in the CTAS stock chart. Relative strength index and moving average convergence divergence both confirm the decline of CTAS shares.
RSI was at 62 and is returning from the overbought territory. The MACD line is moving towards the signal line for a negative crossover. Investors in Cintas Corporation (NASDAQ: CTAS) need to wait for any directional change over the daily time frame chart.
Summary
CTAS stock price is trying to sustain above $515 mark but sellers are pulling CTAS shares downwards. Cintas stock price may bounce back from the current level and remain above the $515 mark on Monday. Meanwhile, Cintas stock is slipping after testing the $525 level and is currently trying to sustain above $515 level. In addition, Cintas stock price managed to gain around 13.47% year to date. Technical indicators suggest CTAS stock is in a downtrend.
Technical Levels
Support Levels: $514.45 and $510.00
Resistance Levels: $525.30 and $530.00
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
