Stericycle (SRCL) broke resistance with a surge last year and returned to broken resistance this year. It looks like broken resistance is turning into support as the stock surged with good volume on Wednesday. Also notice that the Dec-Jan decline retraced 50% of the prior advance.
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About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London.
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