How Far Will Stericycle Go?

In the June 2nd newsletter, I focused on Stericycle, saying…

“Stericycle (SRCL) has been in a slight downtrend. The medical waste management company isn't in a sexy business, but the demand for their services is always there. So while other stocks have been seeing a larger pullback, SRCL has been holding up pretty well.”

“What stood out was Friday's large volume bar on a strong up-close day. I did not see any news to account for this sudden jump. Volume fell off as SRCL hit the May lows, and this strong volume on a rebound day strongly suggests institutional participation.”

I continued… “SRCL has a strong seasonal pattern right now. Over the next 12 weeks, SRCL has gained an average 10.1%, with losses in only 2 of the past 17 years“.

SRCL jumped 3% on Friday from an analyst upgrading Stericycle's price target to $140. Jim Cramer's TheStreet rates SRCL as a buy. Two strong volume spikes a few weeks apart is often a sign of institutional accumulation. Don't be surprised to see more spikes, spaced about every 3-4 weeks. SRCL may have a ways to go on this breakout. Hold on for the ride.

Of course, there's much more you need to know and many more stocks you can capitalize upon each and every day.  To find out more, please click on the following link: www.markettamer.com/seasonal

By Gregg Harris, MarketTamer Chief Technical Strategist

Copyright (C) 2014 Stock & Options Training LLC

Unless indicated otherwise, at the time of this writing, the author has no positions in any of the above-mentioned securities.

Gregg Harris is the Chief Technical Strategist at MarketTamer.com with extensive experience in the financial sector.

Gregg started out as an Engineer and brings a rigorous thinking to his financial research. Gregg's passion for finance resulted in the creation of a real-time quote system and his work has been featured nationally in publications, such as the Investment Guide magazine.

As an avid researcher, Gregg concentrates on leveraging what institutional and big money players are doing to move the market and create seasonal trend patterns. Using custom research tools, Gregg identifies stocks that are optimal for stock and options traders to exploit these trends and find the tailwinds that can propel stocks to levels that are hidden to the average trader.

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