- 1 United Rental stock is trading below the 50 and 100 EMAs showcasing bearishness.
- 2 URI stock was down by 5.23% in the last trading session.
URI stock price is showcasing weakness on the daily time frame eating up the previous gains. The stock faced resistance from the higher levels and formed lower lows. This shows that the bears have been in control and the stock has lost momentum. The stock has broken below the key moving averages, which indicates further weakness.
The URI stock has created a bearish pattern and erased the gains it made in the previous months. URI stock has returned to its 200 EMA level, which could act as crucial support. The technical analysis suggests that the stock is oversold and could bounce back from the lower levels if buyers support it. However, the stock needs to show some signs of strength and reversal before confirming a pullback rally.
URI stock price is in a correction phase but trading near to crucial support of 200 EMA. The stock formed a bullish candle indicating that buyers are active and will try their best to rebound.
United Rental stock price closed the previous session at $429.34 with an intraday loss of 5.23%. If the buyers succeed in defending the current support, then the possibility of a bounce back will increase. However, if the sell-off continues and URI stock drops below lower levels, more downfall is possible.
Buyers tried multiple times to break the higher range and expand upward. However, due to the strong presence of sellers, prices faced rejection. It shows sellers are still active on higher levels.
Will URI Stock Price Break Below the 200 EMA
URI stock price is below the downward-sloping 50-day and 100-day EMAs showcasing a downtrend.
The MACD generated a positive crossover. However, the MACD curve is still indicating bearishness. The current value of RSI is 43.65 points. The 14 SMA is below the median line at 44.90 points which indicates that the URI stock is bearish.
Weekly Analysis: URI Stock
URI stock has shown sellers’ strength on the weekly charts. However, the price is still above the key EMAs, which shows further weakness in the stock. The RSI curve is near the neutral region at 50, and a negative outlook was noted, suggesting bearishness in the stock. The MACD indicator shows red bars. A bearish crossover was noted, which signals bearish moves on the daily chart.
URI stock technical MACD, RSI, and EMAs are highlighting negative signs and imply that the downtrend may continue in the United Rental stock price. URI price action suggests that the investors and traders are bearish on the 1-day time frame. The price action reflects a bearish perspective at the moment.
Support Levels: $404.74 and $367.40
Resistance Levels: $455.27 and $480.00
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your own research before making any financial decisions.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.