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TPA Plus - Trend Range

SRCL-positive

tpa
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  • 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).

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Relative Rotation Graphs (RRG) – explanation video

RRG – written explanation

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