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United Rentals Falls 6.90% on Heavy Volume: Watch For Potential Rebound

By Amy Schwartz

United Rentals (NYSE:URI) traded in a range yesterday that spanned from a low of $104.38 to a high of $110.27. Yesterday, the shares fell 6.9%, which took the trading range below the 3-day low of $110.35 on volume of 950,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend recommended that its subscribers protect gains by selling shares of United Rentals on July 18th, 2019 by issuing a Downtrend alert when the shares were trading at $123.08. Since that call, shares of United Rentals have fallen 8.6%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

United Rentals share prices have moved between a 52-week high of $173.00 and a 52-week low of $94.28 and are now trading 11% above that low price at $104.38 per share. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has remained constant.

Keywords: rebounders united rentals

Ticker(s): URI