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:
URI moves on its rising upper Bollinger Band.
The MACD is above its signal line
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
