Score 9.1 (out of 10): UNITED RENTALS INC sets up for -6.5% drop in 2 weeks

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What’s Going On Here?

Two weeks ago, UNITED RENTALS beat analysts’ earning estimates but the share has not followed through with positive price performance. While analysts still see a +24% upside, the short term set up appears to call for lower prices.

Why Now?

UNITED RENTALS INC has triggered a new technical analysis signal. During similar occasions, UNITED RENTALS INC shares had a median return of -6.5%, over the following 2 weeks – based on 10 historical occasions with 10 of those showing negative returns (100%). This sell signal for UNITED RENTALS INC received a high score of 9.1 (out of 10). This insight was generated on 2022-February- 14 with last price of 313.25.

What’s This Company About?

UNITED RENTALS INC is in the Rental Auto/Equipment business. Based on the last 2 years’ risk/return profile, this asset is seen as Less Risky. ‘Wall Street’ analysts think the stock price will be worth +24% (average). Ticker symbol: URI US.

What’s My Risk / Reward and Time Horizon?

We found 2 weeks to be the optimal trade horizon, after testing a number of possible alternatives (accuracy of previous returns). Otherwise consider closing out this trade once the target level of 292.86 (-6.5%) has been reached. Based on UNITED RENTALS INC’s recent up and down swings, LongShortBets suggests considering to set a stop loss level for this insight at 329.35 (last price at 313.25), which is equivalent to a 5.1% rally.

Returns during similar periods:

The chart above shows the previous returns (in %) based on similar setups with the most recent ‘insight’ shown under (1), the second most recent ‘insight’ shown under (2), etc. 

Previous episodes:

-12.4% (November- 2021), -3.9% (August-2021), -3.3% (June-2021), -0.2% (April-2021), -5.3% (December-2020), -7.9% (September-2020), -17.3% (September-2018), -4.1% (July-2018), -10.9% (April-2018), -7.8% (January-2018).

Historical Chart:

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Summary:

NameUNITED RENTALS INC
ViewUp
Star (1 to 10)9.1
Target-6.5%
Time2 months
Hist Rate100%

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