$URI buy buy buy Nice uptrend with test of support. Should run to the upper line around $87 or more.
URI trade ideas
$URI - Short - Near Term Short on Overbought Cond., Fib Resist.After falling over 50%, we've seen a 50% rally in URI off the low. The struggle to break above the 200 week SMA indicates some resistance in an already overbought situation. Additionally, the indecision signaled by the candlestick charts indicates that we may see some selling pressure in the near term without any major catalyst to spur shares higher. I'm currently looking for a pullback to the $75 dollar area, where should we catch support, would be looked upon as a buying opportunity, while if it fails to hold, we could be looking at shares retreating to the ~$61 level (Note those long candles around this level, signifying support)
URI Short Term to 120, Potential to 130Short Term to 120: Line of resistance Hit
Potential to 130: Cup and Handle Breakout
Total commitment from the bearsAt the recent top, i saw two bearish engulfing candlestick pattern.
The latter one is even more serious as it engulfed the first engulfing pattern with 15x the normal volume!
Like a shark swallowing a small fish.
With MACD & RSI showing bearish divergence and moving lower..
I will short URI at 116.7 with stop loss at 120
United RentalsConservative entry on retest of 72 support/ 50 fib. More aggressive entry would be 73 support/33%. Stop below swing low. Target just below 78.
