- SRCL rose above its 15-month downtrend line in August. The zoom chart reveals that the rally in August also put SRCL above 3-month resistance at the 50 level. SRCL has established a pattern of higher lows=uptrend and the recent decline puts it at uptrend support. The weekly chart shows that the low is June was a true long-term inflection point as it matches up with support from 2019 and 2020. The weekly chart also shows that SRCL is very close to the bottom of its 10-year trading range.
RRG analysis shows that SRCL has moved out of the Lagging quadrant, into the Improving quadrant, and is headed to the Leading quadrant. (see RRG below).
Relative Rotation Graphs (RRG) – explanation video
