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Cintas (CTAS) Recently Broke Out Above the 20-Day Moving Average
Cintas (CTAS - Free Report) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, CTAS crossed above the 20-day moving average, suggesting a short-term bullish trend.
A well-liked tool among traders, the 20-day simple moving average offers a look back at a stock's price over a 20-day period. This is very beneficial to short-term traders, as it smooths out short-term price trends and gives more trend reversal signals than longer-term moving averages.
Like other SMAs, if a stock's price is moving above the 20-day, the trend is considered positive. When the price falls below the moving average, it can signal a downward trend.
CTAS could be on the verge of another rally after moving 6.3% higher over the last four weeks. Plus, the company is currently a Zacks Rank #3 (Hold) stock.
The bullish case only gets stronger once investors take into account CTAS's positive earnings estimate revisions. There have been 1 revisions higher for the current fiscal year compared to none lower, and the consensus estimate has moved up as well.
With a winning combination of earnings estimate revisions and hitting a key technical level, investors should keep their eye on CTAS for more gains in the near future.