Resistance

Safety

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>CTAS stock has shown rejection near the neckline of $525.</a> </li> 
 <li> <span>2</span> <a>Buyers are losing momentum as well as the gains.</a> </li> 
</ul> 
<p>Cintas Corporation (NASDAQ: CTAS) CTAS stock made a double top pattern near the resistance mark of $525. It is retracing toward the 20 day EMA. Moreover, the price action shows that buyers started unwinding their long positions and is losing momentum which suggests that CTAS stock may retest the round mark of $500 in the coming sessions. However, the CTAS stock is in an uptrend and is gaining steadily.</p> 
<p>Cintas stock price is above the significant moving averages and was in a strong uptrend and has given positive returns among its peer stocks. Moreover, CTAS stock persisted in driving performance showcasing the bulls’ dominance. However, profit booking is essentially due to the broad market selling among the sectors which led to a slide from the resistance mark of $525. However, the immediate support zone is near the 20 day EMA, from ca pullback is anticipated and that the stock will retain the swing highs in the coming sessions.</p> 
<p>CTAS stock per the options chain shows that, at the strike price of $510, a massive open interest of 132 hundred shares on the put side, whereas 99 hundred shares on the call side shows that long buildup and stock will resume the up move soon.&nbsp;</p> 
<p>At press time, CTAS stock price was $508.19. An intraday drop of 1.18% suggests neutrality. Moreover, the trading volume rose by 0.56% to 254.89K and the market cap is $51.761 Billion. However, analysts maintained a neutral rating with a yearly target price of $529.90 suggesting a strong growth outlook for the coming sessions.</p> 
<p>Cintas Corp. engages in the provision of corporate identity uniforms through rental and sales programs. It operates through the following segments: Uniform Rental and Facility Services, First Aid and Safety Services, and All Other. The Uniform Rental and Facility Services segment consists of the 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 includes first aid and safety products and services.&nbsp;</p> 
<h2 class="wp-block-heading" id="strong-will-ctas-retest-500-or-pulledback-toward-530-strong"><strong>Will CTAS Retest $500 or Pulledback Toward $530?</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter">
  <img decoding="async" loading="lazy" width="1600" height="752" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-590.png" alt="CTAS Stock (NASDAQ: CTAS) Made Double Top, Will CTAS Retest $500?" class="wp-image-176980" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-590.png 1600w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-590-300x141.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-590-1024x481.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-590-768x361.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-590-1536x722.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-590-750x353.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-590-1140x536.png 1140w" sizes="(max-width: 1600px) 100vw, 1600px">
  <figcaption class="wp-element-caption">
   Source: CTAS Stock Price Chart At TradingView
  </figcaption>
 </figure>
</div> 
<p>On the daily charts, CTAS stock price is above the 20 day EMA. Furthermore, the price action is favoring the bulls suggesting an upmove toward the hurdle of $530. Despite the retracement, CTAS stock is currently giving a discount to the investors for making long positions. Furthermore, the CTAS stock price is above the 50% Fib zone and is showing bullishness for the past sessions.</p> 
<p>The RSI curve is in the overbought zone and showed a positive crossover indicating that fresh upside move toward $550 is anticipated.</p> 
<p>The MACD shows a bullish crossover and green bars on the histogram, suggesting a positive outlook for the upcoming sessions.</p> 
<h4 class="wp-block-heading"><strong>Summary&nbsp;</strong></h4> 
<p><a href="https://www.thecoinrepublic.com/2023/10/18/apd-stock-price-20-gain-in-a-year-stock-outperforms-market/" target="_blank" rel="noreferrer noopener">CTAS stock price</a> is above the round mark of $500 and is showing bullishness on the charts. However, slight correction took place due to the double top formation near the resistance zone of $525 and CTAS stock is heading to the 20 day EMA support zone. Furthermore, the CTAS stock price is a strong uptrend and will continue to outperform in the next sessions.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<p>Support Levels: $500 and $485</p> 
<p>Resistance Levels: $510 and $520</p> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.</p>

CTAS Stock (NASDAQ: CTAS) Made Double Top, Will CTAS Retest $500?

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