Hi mates, have another nicelooking trading idea on NASDAQ:SRCL
Now its perfectly sitting in demand zone at 65 - 67.60
The nearest target is in 72 - 74.60
Industial sector is one of strongest in recent days.
From a long term market cycle completion to the external forces of mass vaccination causing demand on the medical waste industry, Stericycle seems primed for a bull run through 2021.
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...
SRCL another ticker I believe will have a some decent moves despite it being back to precovid levels. The reason being is that once there is a vaccine. Just think of all the medical supplies that nurses and doctors need to use to administer the vaccine. Once a syringe and needle that is used in the injection will be put into the medical waste , which simply does...
Stericycle has been on a nice downtrend which looks finished here broke out of the wedge and bounced nicely off support with increasingly higher volumes, we have a flag in formation on breakout point, i will look to buy a break of the flag or if possible i will get in on a dip if flag comes down more
