URI
is showing some weakness with negative divergence on both MACD and RSI. For the bulls, it looks like it is forming a cup and handle pattern. For the bears, it looks like a double top formation. So, which is it? Here are the deciding factors:
If the price can break and close above $490, it could confirm the cup and handle breakout and the price could reach $552.
However, if the price breaks below $439, the double top pattern could play out and the price could fall to the $412 to $400 area.