URI breaks above resistance level


Context Technical Analysis

​URI – United Rentals, Inc. – moved in mid-October above its 10-day exponential moving average, which in turn moves above the diverging 20- and 50-day exponential moving averages, a prerequisite of a strong bullish trend.

Since the beginning of November, however, price started moving horizontally – the orange box – till price reached its 10-day exponential moving average.

Since then, a series of three bullish candlesticks is an indication that the bulls will move price higher again.

Momentum

The recent trendless price action and loss of momentum resulted in MACD crossing below its signal line.

MACD has already leveled off and provided the bullish momentum continues will bring MACD above its signal line again.

​Relative Strength

​The stock’s Relative Strength has been moving up and above its 20-day exponential moving average since mid-October.

​General MSI

​100

​Sector MSI

​50.5, the fifth strongest Sector

​Higher Time Frame

The stock’s weekly chart shows that:

  1. URI moves on its rising upper Bollinger Band.

  2. The MACD is above its signal line

  3. The stock’s Relative Strength is moving up and above its 20-day exponential moving average

​Suggested Buy

​Buy above 157.5

​Suggested Stop Loss

​Sell at 147.5

​Size

​100 stocks


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