URI .. United Rentals is a sign of S&P Industrial peakMay seem complicated, but just sit and focus on the chart a bit.
The Williams vix bottom indicator is useful when matched with the MACD divergent indicator.
The Price ranges are each time the vix indicator and MACD divergent indicator flipped.... to show tops and bottoms.
But weird thing is the last "bottom" didnt display on the indicator, which means outside forces may of pushed up the markets for a certain day of electioning to come....meaning now that everything is settled and all is ready to be let go of....The rollover needs to be about 2x the fall of that, maybe more.
But notice how the averages on the MACD divergent indicator show a 101% handle which is right back to the 0 level....funny how that works if everything is random or whatnot.
So basically, SIJ if you care to think this market is a bit more broken than you could imagine.
URI trade ideas
We like when URI go upURI is printing higher highs and creating typical bullish pattern indicative of upwards momentum. Price is accumulating orders at demand zones and pushing up to discover new supply zones.
Going to pick some more up for the portfolio at these levels to ensure I remain diversified in the markets.
URI heads up at $675: major fib confluence, possible local topURI heads up at $675: major fib confluence, possible local top.
The exact zone defined by the fib confluence is 671.30 - 677.71
Look for a pullback there, or a break and retest for continuation.
Will post updates as price action hits key levels.
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United Rentals Has Pulled BackUnited Rentals has trended higher since October, and some traders may see opportunities in its current pullback.
The first pattern on today’s chart is the rally to new highs on January 25 after earnings beat expectations. The industrial stock has held that move without a significant retracement, which may suggest that buyers outnumber sellers.
Second is the falling trendline since March 4. URI is now challenging that short-term resistance.
Third is the series of higher weekly lows since the beginning of February.
Next, prices have pulled back to hold the 21-day exponential moving average (EMA). The 8-day EMA is also above the 21-day EMA. Those patterns may reflect an uptrend.
Finally, the February 12 close of $663.53 was resistance through the end of the following week. URI has pulled back to form a hammer candlestick at the same level. Has old resistance become new support?
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$URI - Which is it?NYSE:URI is showing some weakness with negative divergence on both MACD and RSI. For the bulls, it looks like it is forming a cup and handle pattern. For the bears, it looks like a double top formation.
So, which is it? Here are the deciding factors:
If the price can break and close above $490, it could confirm the cup and handle breakout and the price could reach $552.
However, if the price breaks below $439, the double top pattern could play out and the price could fall to the $412 to $400 area.
United Rentals (URI): Stock is overbought and due for pullbackI am bullish on United Rentals (URI) for the long-term looking 3 to 5 years ahead.
The company has great fundamentals and is holding up well in this environment where we could see a recession in the U.S. in 2023.
URI just reported a positive Q4 earnings with a strong outlook.
The technicals show an overbought condition on the 1 day chart.
So, I am anticipating a decline in the stock which could be triggered by the Fed meeting on 1/31 & 2/1 depending on actions taken and what is said about future rate increases.
Action: wait for a decline, then buy
The link contains an article with a detailed discussion.
United Rentals: Where’s the Recession?Despite all the talk about a recession in 2023, many cyclical industrial companies have gained traction lately -- including United Rentals.
The first item on today’s chart is the $365 area where URI peaked in late March. Prices pushed against that level several times since mid-November while making higher lows. The result has been an ascending triangle. The stock broke out of that potentially bullish continuation pattern last week.
Next, the 50-day simple moving average (SMA) rose above the 200-day SMA in late November as the triangle formed. That kind of “golden cross” may suggest the longer-term trend is turning positive again.
Third, the 8-day exponential moving average (EMA) has remained above the 21-day EMA throughout the consolidation period. Such tight price action could indicate buyers exceed sellers.
Finally, MACD has just turned positive.
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UNITED RENTALS - BULLISH SCENARIOBounce back in the construction activity and huge amounts of federal infrastructure spending in the coming months are suggesting strong earnings for the sector and especially for United Rentals Inc, which is the largest equipment rental company in the world, serving its customers through an integrated network of over 1,100 rental locations in the U.S. and Canada.
From a technical point, we have a double bottom, with bullish RSI divergence and retest of the breakout.
The first strong resistance is located at 0.5 Fibonacci.
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URI getting ready to move higher!* Excellent earnings
* Very strong up trend
* High relative strength in the Industrials sector
* Breaking out of a ~8 month consolidation with very high volume (172.64% higher than average)
* Max probable ROI on this trade is 26.08%
Note:
* Institutions don't buy breakouts, they create breakouts.
Trade Idea:
* Now is the perfect time to get in since the price is still very close to the broken level and it broke out on very high volume.
* Also, the last closing candle can be classified as a bullish pin bar showing tonnes of demand under the $364.30 area
United Rentals will be beneficiary of Stimulus talks & Stimulus$URI. One word: Stimulus.
BUY signal, 7 confirms, and bouncing off .618 Fibonacci retracement.
Buy stock or long-term options.
Stop loss is $260, b/c YTD it's up 92%.
Happy Trading, from CJ -- aka the greatest FURU.
To find out more about The Ultimate Stock Indicator on Tradingview, please check my public profile.
$URI - Updated Wave Count
Jan 11 Update:
- Had nice entry on the pull back to support at 224 on Jan 24 and then had a nice GAP up
- Hit our 2.272% target and just under the 1.615%
- slight retrace flagging down to the 0.382 which is close to my 38.2% wave 4 bottom. Is this the wave 4?
Trade Entry Options were:
Entry Option 1 - Breakout: $234.50
Entry Option 2 - Pull Back: $225-226 or $227-$230
Stop: $224
Targets: 245, 273, 288, 307
$URI Awaiting Breakout In United Rentals.
URI had recently broken to new highs but was hindered by the
most recent decline in the markets.
URI is for sure a election play, with infrastructure spending used to woo voters.
Its also benefits from the thriving Housing market.
The commodities surge also signals growth ahead.
Local Fibonacci price targets as per the chart, with 3 particular levels of interest.
Looks like a Bull-Flag is forming, a break out from that structure show see buyers.