United Rentals Inc Stock Forecast
On Thursday, United Rentals Inc stock price gained an impressive 5.45%
(Updated on Apr 25, 2024)
The United Rentals Inc stock price gained 5.45% on the last trading day (Thursday, 25th Apr 2024), rising from $655.19 to $690.92. During the last trading day the stock fluctuated 7.99% from a day low at $643.55 to a day high of $694.94. The price has fallen in 7 of the last 10 days but is still up by 0.76% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 364 thousand more shares were traded than the day before. In total, 984 thousand shares were bought and sold for approximately $680.02 million.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 4.88% during the next 3 months and, with a 90% probability hold a price between $661.27 and $767.19 at the end of this 3-month period.
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URI Signals & Forecast
The United Rentals Inc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $647.74 and $682.57. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 9.96%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for United Rentals Inc stock
United Rentals Inc finds support from accumulated volume at $675.58 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $51.39 between high and low, or 7.99%. For the last week, the stock has had daily average volatility of 4.23%.
Our recommended stop-loss: $662.59 (-4.10%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 4 days ago.)
Trading Expectations (URI) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect United Rentals Inc to open at $676.47, and during the day (based on 14 day Average True Range), to move between $669.09 and $712.75, which gives a possible trading interval of +/-$21.83 (+/-3.16%) up or down from last closing price. If United Rentals Inc takes out the full calculated possible swing range there will be an estimated 6.32% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $691.79 (0.13%) than the support at $675.58 (2.22%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is United Rentals Inc stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for United Rentals Inc stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 3.401 Buy Candidate Upgraded
Predicted Opening Price for United Rentals Inc of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $676.47 ( 2.09%) | $690.92 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for URI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 727.86 | 5.35 % | |
| R2 | 708.23 | 2.51 % | ||
| R1 | 696.10 | 0.750 % | ||
| Current price: | 690.92 | |||
| Support | S1 | 656.84 | -4.93 % | |
| S2 | 644.71 | -6.69 % | ||
| S3 | 625.08 | -9.53 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 719.05 | 4.07 % | |
| R2 | 709.33 | 2.66 % | ||
| R1 | 691.79 | 0.126 % | ||
| Current price | 690.92 | |||
| Support | S1 | 675.58 | -2.22% | |
| S2 | 636.22 | -7.92% | ||
| S3 | 630.75 | -8.71% |
URI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 24, 2024 | Feb 14, 2024 | Feb 28, 2024 | $1.63 | 0.238% |
| 2 | Jan 24, 2024 | Feb 13, 2024 | Feb 28, 2024 | $1.63 | 0.238% |
| 3 | Oct 25, 2023 | Nov 07, 2023 | Nov 22, 2023 | $1.48 | 0.319% |
| 4 | Jul 26, 2023 | Aug 08, 2023 | Aug 23, 2023 | $1.48 | 0.330% |
| 5 | Apr 26, 2023 | May 09, 2023 | May 24, 2023 | $1.48 | 0.443% |
FAQ
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