United Rentals (URI): Stock is overbought and due for pullback
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I am bullish on United Rentals (URI) for the long-term looking 3 to 5 years ahead. The company has great fundamentals and is holding up well in this environment where we could see a recession in the U.S. in 2023. URI just reported a positive Q4 earnings with a strong outlook. The technicals show an overbought condition on the 1 day chart. So, I am anticipating a decline in the stock which could be triggered by the Fed meeting on 1/31 & 2/1 depending on actions taken and what is said about future rate increases. Action: wait for a decline, then buy The link contains an article with a detailed discussion.