Elliott Wave Technical Analysis: Cintas Corp. - Tuesday, July 11

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Cintas Corp., Elliott Wave Technical Analysis

Cintas Corp., (Nasdaq: CTAS): Daily Chart, 11 July 2023.

CTAS Stock Market Analysis: We have been monitoring this for a while now. On the previous forecast, I was looking at a corrective move in wave iv to then resume higher.  

CTAS Elliott Wave Count: Wave (c) of {v}

CTAS Technical Indicators: Above all averages.

CTAS Trading Strategy: Looking for longs within wave v.  

Analyst: Alessio Barretta

Cintas Corp., CTAS: 4-hour Chart, 11 July 2023.

Cintas Corp., Elliott Wave Technical Analysis
CTAS Stock Market Analysis: It looks like we could have had a triangle in wave iv and we could be resuming the trend as we seem to be in wave 1 of v. As wave iii was shorter than i we should expect wave v to be shorter than iii, therefore we should not break 519$.

CTAS Elliott Wave count:  Wave 1 of v.

CTAS Technical Indicators: 20EMA as support.

CTAS Trading Strategy: Looking for build longs with invalidation at $480, which has proven to act as support for the past several weeks.

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