Cintas Corporation : Technical levels currently tested
By Etienne Veber
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
US$88.43 | US$0 | US$86.8 | -100% |
According to Surperformance ratings, the group has strong fundamentals, both in terms of business predictability and valuation. In addition, analysts have been revising upward their earnings estimates and nowadays expect a profit of USD 4.61 per share for the current year.
Technically, the uptrend in the medium and long term should cover the equity of a major downtrend. In the short term, a decline has lead the share near the USD 88.3 support. Therefore, if a technical rebound takes place the target would be fixed near the USD 93.55 mid-term resistance.
Consequently, we expect a rebound on the USD 88.3. Most active investors could buy the equity near this price targeting a return on the USD 93.55. A stop-loss order will be placed below the USD 87.3 support.