URI finds buyers again around 166.65
United Rentals Inc. (URI) Technical Analysis Report for Sep 14, 2018 | by Techniquant Editorial Team
URI finished the week 10.93% higher at 168.95 after gaining $2.10 (1.26%) today. Today's closing price of 168.95 marks the highest close since June 12th. Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range.
Daily Candlestick Chart (URI as at Sep 14, 2018):
Friday's trading range was $3.09 (1.85%), that's slightly below last trading month's daily average range of $4.01. Things look different on a weekly scale, where volatility is way above the markets average with the monthly volatility being above average. Prices continued to consolidate within a tight trading range between 165.35 and 170.43 which it has been in now for the last three days.
During the whole day, prices traded within the previous day's range, unable to trade above the prior day's high or below the previous day's low forming an Inside Bar.
Prices are trading close to the key resistance level at 170.43. After having been unable to move lower than 166.20 in the prior session, United Rentals found buyers again around the same price level today at 166.65.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
Buying could speed up should prices move above the close-by swing high at 170.43 where further buy stops might get triggered.