Anyone who has ever moved a student to college or helped a neighbor moving in or out are familiar with the name U-Haul and their orange, black and white vans and other vehicles. At my age I am very willing to have other people do the moving and I will play it safe with the charts and indicators of U-Haul Holding Co. ( UHAL) .
In this daily bar chart of UHAL, below, I can see that prices have made lower highs from February. Prices trade below the 50-day and 200-day moving average lines. The trading volume has been declining since November and suggests a lack of investor interest.
The On-Balance-Volume (OBV) line has been weak since early December and tells me that sellers of UHAL have been more aggressive than buyers. The Moving Average Convergence Divergence (MACD) oscillator is in a bearish alignment below the zero line.
In this weekly Japanese candlestick chart of UHAL, below, I can see a weakening picture. Prices have rolled over the past 12 months. UHAL is trading below the 40-week moving average line.Trading volume has been shrinking and suggests that trading interest has gone somewhere else. The weekly OBV line is in a weakening trend. The MACD oscillator is bearish.
In this daily Point and Figure chart of UHAL, below, I can see a downside price target in the $51 area.
In this second Point and Figure chart of UHAL, below, I used weekly close only price data. Here the software points to a downside price target in the $42 area.
Bottom line strategy: Avoid the long side of UHAL as further declines seem likely.
