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Bearish Moving Average Cross by United Rentals (URI)

By James Quinn

United Rentals (NYSE:URI) shares have crossed bearishly below their 10-day moving average of $81.64 on a volume of 289K shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.

United Rentals share prices have moved between a 52-week high of $105.83 and a 52-week low of $41.90 and are now trading 94% above that low price at $81.48 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has advanced 1.8%.

SmarTrend recommended that subscribers consider buying shares of United Rentals on July 12th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $69.89. Since that recommendation, shares of United Rentals have risen 17.8%. We continue to monitor URI for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses united rentals

Ticker(s): URI