URI trade ideas
$URIBreaking the downtrend, making a triangle then breaking through it. Acquiring a 2.1 billion doallar asset and adding it to the company. To the moon!!!
$URI United Rentals Breaking Downtrend$URI United Rentals - appears to have broken through a long term down trend line which began back in March when the stock peaked around $190. Not exactly a sexy growth company...but the long term chart looks bullish in my opinion and the company has been fairly consistent delivering solid earnings results (next ER late Oct).
Also of note - Bullish $8M+ options trade today...155/160 strike Sept 21 calls purchased. A fund or individual with deep pockets believes in this stock.
Medium term target - $190 (prev ATH)
Long term target - $220 (possibly conservative given the stock's last two long term bull runs resulted in moves of +77% and +75%....which would bring the long term target up into the area of $260 by the mid point of 2019)
Note: Informational analysis, not investment advice.
URI - Do we dear?Do we dear go fishing under all these resistance levels and moving averages?
I say YES.
Bullish Bat Nice looking large bullish bat, completing with a smaller bullish bat along with bullish divergence.
URI long opportunityWe have not yet made an impulsive move up in the daily time frame -- however, with indicators diverging the same way they did in 2014 (), I think we are in store for a pretty solid pop upwards
URI short term shortWould like to enter some short positions on URI and watch it go into c of 2, so that we can go for a very nice bullish setup there.
So plan is to wait for the little green box at the gann line, and then small short there, and flip to long at the larger green box down below. This trade would likely be a multi month one
URI might be forming the right shoulder in the next few daysThere is a good chance for it to turn bearish at MA50.
Short URI here..Stop at 107.37..aim for 7.5 to 1Sell URI here. Market is hitting Market Profile based resistance right here. Also...stock shows relative underperformance to the SP ( 9 day Beta is 0.42)
United rentals URI OIL play, company related to Heavy Equipment Rental, Stabilized industrial demand will drive steady.
URI close to breaking outURI has been consolidating in a flat base for a little over a month. It attempted to breakout on 3/1 but that breakout failed.
More importantly, however, and what I like most about this base, is that it shook out below the low of the gap up after earnings, found support at the 50dma, and held the pre-gap high (thus not closing the gap). This makes for a fantastic level to play against. Traders who bought off the 50dma will want to see that daily/weekly low of 119.11 hold.
If URI attempts to breakout again, the best place to put a stop in my opinion is still 119.11. However, that's about 10% below the 131.19 pivot which is a stretch for most (myself included). If I'm looking at trading URI longer-term, maybe I let my 7-8% max sell rule slide, place my stop below 119, have the 10% difference between my entry/exit points, and adjust my position size accordingly. However, from an intermediate-term perspective I'd either want to buy closer to the 50dma should URI test it again OR wait until a shorter term layer of support is developed.
URI- We are looking for $75 December putURI running within a rising wedge & rolling over to the down side. Moneyflow has strong neg-divergence, and there was a insider selling in September.
So we think it will decline from here breaking down the wedge formation.
For trade we are looking for $75 December put ( Strath already in) last traded for $3.70
You can check our detailed analysis on URI in the trading room/ Executive summary link here-
www.youtube.com
Time Span: 2:45"
Trade Status: Option trade running
$URI buy buy buy Nice uptrend with test of support. Should run to the upper line around $87 or more.
