Panjang
$SRCL ideal buy point for 3 year breakout
Top (daily): SRCL since the March low, the stock has been consolidating in a wedge and has currently found support in an area that is the trifecta of the uptrend from March/$68 support level/lower wedge line.
Specifically:
-the uptrend remains in tact from March low
-the $66-68 level has was twice tested as resistance and is now acting as support
-tightening wedge with declining volume into the apex
Bottom (weekly): context of $68-$66 level, it was a major breakout level in 2010 where the stock had formed a similar base for 3 years before breaking out to the upside. The weekly chart really gives you the idea of how big this consolidation/backtest of $68 is, the stock has been stuck below the level for 3 years.
Conclusion: the current situation for SRCL is most like the 2010 breakout, the daily chart is at the ideal buy point
Specifically:
-the uptrend remains in tact from March low
-the $66-68 level has was twice tested as resistance and is now acting as support
-tightening wedge with declining volume into the apex
Bottom (weekly): context of $68-$66 level, it was a major breakout level in 2010 where the stock had formed a similar base for 3 years before breaking out to the upside. The weekly chart really gives you the idea of how big this consolidation/backtest of $68 is, the stock has been stuck below the level for 3 years.
Conclusion: the current situation for SRCL is most like the 2010 breakout, the daily chart is at the ideal buy point
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.