Chart of the Day: Who Needs AI When You Have United Rentals?
The big rental company is using AI but not reliant on the tool for stellar performance.
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One thing you might notice about TheStreet Pro Portfolio is the wide variety of names we own. That is not by accident. Chris has done a masterful job looking into the market’s eyes to find out the biggest and best names to own.
We have high-quality names working for us that are not directly related to AI, technology or new frontier ideas. Like on a football team, you need a good offensive and defensive line to do blocking and tackling, but not get much recognition.
United Rentals (URI) is one of those stocks that gives the portfolio diversification, steady growth, sturdiness and powerful price moves. The stock is up 90% since we have owned it in Pro Portfolio.
The URI chart has been strong and steady with the top price chart still in bullish mode. A series of higher highs, higher lows is our textbook pattern of an uptrend, and the parabolic SAR (stop and reverse) is bullish and supportive of any price move downward.
The MACD is flattening out while stochastics remain bullish. Money flow has weakened a bit, but we expect that to improve as we get closer to earnings season in October.
We like United Rentals in TheStreet Pro Portfolio and rate it a Two, or “stockpile on pullbacks.”
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At the time of publication, TheStreet Pro Portfolio was long URI.
