Chart of the Day: A Close Look at United Rentals Ahead of This Week's Earnings
The company reports Thursday and is likely to deliver very positive results.
You're reading 0 of 1 free page.
Register to read more or Unlock Pro — 50% Off Ends Soon
When you see a chart like United Rentals (URI) you tend to worry about whether the stock has built in positive results. URI will deliver earnings this Thursday and the company will likely post strong numbers and possibly better guidance. But the recent run higher from the last earnings report in July, from about $800 to the current price, is a whopping 25%. That move is impressive; the stock has delivered far better returns than the rest of the market, but unless the earnings are stellar we could see a modest pullback.
No question the chart is bullish, and the recent pullback off the all-time highs has now established a reference point (at the 14-period McGinley, around $970). As the push higher in price has slowed down, the indicators have rolled over, but that is not a reason to sell.
In fact, the price chart is still blue, which indicates a strong bullish condition on the GoNoGo composite of indicators. Price indicator is the king of all indicators, so we'll remain bullish but have a watchful eye this week.
We like United Rentals in TheStreet Pro Portfolio and rate it a Two, or "stockpile on pullbacks."
More Pro Portfolio:
- Buying More of a Holding Mistakenly Caught in Crosshairs of Bessent Comment
- AI Police Reports, Auto Woe$, Disney Disruption & More Investing News
- Weekly Roundup: Reaping the Benefits of Recent Portfolio Moves
At the time of publication, TheStreet Pro Portfolio was long URI.
