Volume pretty high but still holding 1.8 percent above the 50-day.. which is about 38.28 according to IBD. Also, IBD ranks accumulation-distribution to be a highest possible A+ and the up/down volume to be a very high 1.8 (1.0 neutral). Increasing fund ownership for two quarters now and 52-week high only a little more than 4.25 percent above current level. Based on the above, buying interest should take over at or above the 50-day, or by around 38.25/share if not above. If the share price drops much below 38 before taking off again I would start wondering.
this proves there are no slam dunks. if reported 2 weeks ago would be up 2 dollars. if u think business stopped hireing today then the story is over but since that probably didnt happen there are some stupid people in the stock market and they are proving it today in this stock.
This stock has a six day of average volume in short positions. Anyone long this stock is absolutely crazy to sell, the games are now being played by the short sellers if longs hold tight then these shorts will be squeezed out of there positons. So longs dont sell
stock had run a bit already ahead of earnings...perhaps analysts wanted to hear that CTAS was making meaningful adds to existing clients which is higher margin business and CTAS did not state that directly...still margins did go up...
CTAS management is always conservative and I figure a couple of days from now the stock will start to head back up - assuming Mr. Market does not tank.
CTAS is attached to the economic recovery in the USA, as long as that story remains the same or gets better then so to does CTAS...
Perhaps tomorrow's unemployment report will move the stock as well.