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Uptrend ExhaustionArchive
- 4/5/2024 -
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United Rentals (URI) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the United Rentals (URI). During the week, the URI dropped -14.24 points, or -1.97%, and closed at 706.87 on Friday, April 5, 2024. Weekly volume was -45% below average.
URI is a member of Industrials Sector. Industrials is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 Long-term trend: [See URI long-term trend chart]
A long-term uptrend had started on June 23, 2022 at 230.54 and reached 732.37 on March 4, 2024. URI gained -501.83 points, or -217.68%, in 88 weeks. The chart has formed a Ascending Triangle chart pattern. The uptrend resistance line (435.14) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.
 Medium-term trend: [See URI medium-term trend chart]
A medium-term uptrend had started on October 26, 2023 at 387.01 and reached 732.37 on March 4, 2024. URI gained -345.36 points, or -89.24%, in 18 weeks. The chart has formed a Rising Channel chart pattern. The uptrend support line (722.94) is broken. A broken support is considered to be a long-term bearish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a medium-term trend.
 Weekly Technical Indicators: [See URI weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range. During the last week, weekly Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.
The weekly MACD line is above its signal line since November 24, 2023. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.
 Short-term trend: [See URI short-term trend chart]
A short-term uptrend had started on January 8, 2024 at 533.70 and reached 732.37 on March 4, 2024. URI gained -198.67 points, or -37.23%, in 56 days. The chart has formed a Ascending Triangle chart pattern. The trend support level is at 698.70 and resistance is at 728.02. An Ascending Triangle is a variation of triangle formation that has a flat resistance line and rising support line. The higher lows indicate an increasing demand and give the ascending triangle definitive bullish bias. An Ascending Triangle usually represents an accumulation stage in bullish market. An Ascending Triangle is considered to be a continuation pattern, especially in an uptrend, but it may also mark a reversal in a downtrend. Use the following link to access a Ascending Triangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Ascending Triangle pattern in a short-term trend.
 Daily Technical Indicators: [See URI daily technical indicators chart]
Daily technical indicators are neutral.
During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.
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