URI finds buyers again around 166.65

United Rentals, Inc. (URI) Technical Analysis Report for Sep 14, 2018

Highlights

URI finds buyers again around 166.65
URI rises to highest close since June 12th
URI stuck within tight trading range
URI closes within previous day's range

TQ Sentiment

Report Sentiment: 0% Neutral
Technical Forecast:

Overview

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 chart for URI

Volatility

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.

Price Action

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.

Support/Resistance

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.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Order Flow

Buying could speed up should prices move above the close-by swing high at 170.43 where further buy stops might get triggered.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Market Conditions for United Rentals, Inc.

Condition Forecast Direction Win Rate Exit Day Events
Close near low of period TQ Pro Members Only
Closed below last periods low TQ Pro Members Only
Bearish Outside Bar TQ Pro Members Only
Bearish Break through SMA 200 TQ Pro Members Only
High close to previous High TQ Pro Members Only
More market conditions identified for TQ Pro members...
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