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Uptrend ExhaustionArchive
- 4/19/2024 -
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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 -46.47 points, or -6.89%, and closed at 628.34 on Friday, April 19, 2024. Weekly volume was -8% below average.
URI is a member of Industrials Sector. Industrials is the second 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 (439.74) 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 (757.31) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. URI may retest the broken support line. It is considered to be a resistance line now. 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 technical indicators are neutral.
During the last week, weekly MACD line has moved below its signal line. Such crossover is considered a bearish signal. Use the following link to access a MACD help.
 Short-term trend: [See URI short-term trend chart]
A short-term downtrend had started on March 21, 2024 at 729.91 and reached 624.01 on April 19, 2024. URI lost 105.90 points, or 14.51%, in 29 days. Price is near the trend low.
 Daily Technical Indicators: [See URI daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are strongly oversold. Use the Technical Stock Screener to see the list of stocks with daily strongly oversold Williams' Percentage Range and Lane's Stochastic. 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 daily MACD line is below its signal line since April 1, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current short-term downtrend is strong.
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