Now, let's take a a look at URI's technicals.
The weekly chart, below, on United Rentals is constructive, with the stock catching support around the $280 level. That price held on a few occasions dating back to last summer, and was the spot of a nice rally toward new highs. This tells us big money is coming into the name and is holding on.
Certainly the market's behavior is showing some weakness, but United Rentals is holding up well. We see the 50-week moving average (blue) acting as some resistance here but that can be flipped to support rather easily. This is shaping up as a potentially interesting entry level area.
Moving Average Convergence Divergence (MACD) appears overdone, and volume trends are positive.
We like this name.
