Bears in United Rentals just love these 2 words "Guidance cut"
Despite an earnings beat and considerable rise in revenues
URI
cut full year guidance, URI says updated guidance reflects "a slightly slower than expected pace for the BlueLine integration, as well as historically bad weather in several key regions this past quarter."
Technically the chart sits in quite a precarious position, having failed to make a new high it looks like it has topped and a considerable drop is on the cards. Given economic uncertainty worldwide the 2018 lows of $95 should not be ruled out for the stock.
When looking at the weekly chart, it looks very like a bear flag forming and a possible supercycle Head & Shoulders pattern.
The major MA's are all declining.
Indicators are all turning bearish
AVERAGE ANALYSTS PRICE TARGET $160
AVERAGE ANALYSTS RECOMMENDATION OVERWEIGHT
P/E RATIO 9.96
SHORT INTEREST 6.3%
COMPANY PROFILE
URI
cut full year guidance, URI says updated guidance reflects "a slightly slower than expected pace for the BlueLine integration, as well as historically bad weather in several key regions this past quarter." Technically the chart sits in quite a precarious position, having failed to make a new high it looks like it has topped and a considerable drop is on the cards. Given economic uncertainty worldwide the 2018 lows of $95 should not be ruled out for the stock.
When looking at the weekly chart, it looks very like a bear flag forming and a possible supercycle Head & Shoulders pattern.
The major MA's are all declining.
Indicators are all turning bearish
AVERAGE ANALYSTS PRICE TARGET $160
AVERAGE ANALYSTS RECOMMENDATION OVERWEIGHT
P/E RATIO 9.96
SHORT INTEREST 6.3%
COMPANY PROFILE