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  • Swing Trade Idea (URI) – April 18, 2023

    Apr 18, 2023 Swing Options Tips Comments Off on Swing Trade Idea (URI) – April 18, 2023

    Our bullish trade for Tuesday, April 18th is United Rentals, Inc. (URI). URI is part of the Industrial Sector, bounced higher off support while it performed at 2.38% over the last month.

    URI found support at a long-term key level of $360, and bounced higher. As it has a relative strength of 9 (out of 10) and broken above the 21 Day EMA, we believe that further upside can be expected over the duration of this trade.

    As a stop loss, if URI were to trade below $370 for multiple days, this would invalidate our analysis and we will consider cutting losses on the trade. We also want to consider cutting losses on this options trade if the value of the vertical spread moves above $27.30.

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