Often overlooked by investors, Cintas is a true gauge of the economy, as the No 1 uniform supplier CTAS has been on real bull run and that looks set to continue. The hiring frenzy in retail pre christmas should come into the earnings report tomorrow, as customers stockpile uniforms for temporary seasonal workers.
Entry level $256
Target Price $285
Stop loss...
This is a review of my previous chart setup. The fakey setup worked giving us a 2.9% return. It might go up more but for me, this is a good stopping point.
Longs may be a little nervy into earnings tomorrow, the stock has had a incredible run higher in 2019, but the indicators are showing weakness. Although the company has a fantastic earnings beat history, technical traders will have a close eye on this stock for a sell off regardless of results. Bearish divergences are present on the indicators and that should not...
CTAS have ALL indicators to the top... I mean all of them.. uhuuu yes.. pass 52 weeks high... RSI high.. accumulation High.. and the chart is showing resistance at $223. I believe is time to short and drop price so it will prepare for distribution again,,, great company. Usually when this stock drop it will lose easily $8 - $15.. lets see if it breaks $223....
Position trading only. avg. volume is below 1M, try at ur own risk. There will be 2 levels from which you can try to short - 1. Hourly chart. most recently we broke through $200 level, so u can try to short on the retest of this level. I wouldn't recommend to short right now, unless u can afford $10 SL. so, short @ $200, TP $190 or even lower, depends on whether...
NASDAQ:CTAS Trigger: $185.33 after a pullback. Stay away if it gaps up.
Please like and comment if you like my ideas. THANK YOU!!!
Please note that this information is not a recommendation to buy or sell. It is to be used for educational purposes only.
Cintas Corp. engages in the provision of corporate identity uniform through rental and sales programs. It operates through the following segments: Uniform Rental and Facility Services, First Aid and Safety Services, All Other, and Corporate. The Uniform Rental and Facility Services segment consists of rental and servicing of uniforms and other garments including flame resistant clothing, mats, mops and shop towels, and other ancillary items. The First Aid and Safety Services segment comprises of first aid and safety products and services. The All Other segment includes fire protection services and its direct sale business. The Corporate segment consists of corporate assets such as cash and marketable securities. The company was founded by Richard T. Farmer in 1968 and is headquartered in Cincinnati, OH.
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CTAS
