Higher Highs Ahead for Cintas Corp (NASDAQ: CTAS)
Says Market Timer Frank Kollar
July 27, 2010 (FinancialWire) (By Frank Kollar)
Last week Cintas Corp (NASDAQ: CTAS) released earnings
a couple cents below what Wall Street expected. Third-quarter
net income fell to $48.9 million or 32 cents a share, from
$71.8 million, or 47 cents, a year ago. Revenue for the
three months ended Feb. 28 fell 5.2% to $861.8 million.
Analysts had expected the company to earn 30 cents a share.
But share prices rose on the news and have been rising
since.
On Monday, July 26, shares rose 1% and made their highest
close since mid-May. In doing so, Cintas also broke above
resistance at $26.00 a share.
Monday’s close was also above the 50% retracement
of the entire April to July decline that loped some 17%
off shares prices.
Cintas’ next target is at $26.70, the 61.8% retracement
and after that the prior rally highs up at $28.79 a share.
The Fibtimer.com (http://www.fibtimer.com)
Stock Timing Strategy holds a position in Cintas.
Kollar is editor and chief analyst at FibTimer.com (http://www.fibtimer.com)
which offers market timing strategies for S&P and
Nasdaq index fund traders, as well as bond, gold, small
cap, sector, ETF and stock trading strategies.
Kollar’s research has shown
that the financial markets are in tradable trends approximately
80 percent of the time. FibTimer strategies define trends
and trade them in both advancing and declining markets.
Caring nothing about what newscasters say or what the
latest economic indicator predicts, trends are where
the profits are, and that is where FibTimer is.
Go to previous Press
Releases & Trading Notes.
Note: These Press Releases are short term in nature. They may or may not reflect the same position as current subscriber reports which typically have longer time frames.
© Copyright 1996-2010, Market Timing Strategies, Inc., All Rights Reserved.
FibTimer reports may not be redistributed without permission. These Trading Notes however may be distributed without permission.
Disclaimer: The financial markets are risky. Investing is risky. Past performance
does not guarantee future performance. The foregoing has been prepared solely
for informational purposes and is not a solicitation, or an offer to buy or sell
any security. Opinions are based on historical research and data believed reliable,
but there is no guarantee that future results will be profitable. |
