Stericycle Inc (NASDAQ: SRCL)

Stericycle, Inc., together with its subsidiaries, provides regulated waste management and related services. It offers various services, which include institutional regulated waste management services; Bio Systems reusable sharps management services to reduce the risk of needle sticks; pharmaceutical waste disposal services and hazardous waste disposal services; integrated waste stream solutions program; various products and services for infection control; Steri-Safe OSHA and HIPAA compliance, and clinical services programs; regulated returns and waste management services for expired or recalled products; and patient communication services. The company serves large-quantity generators of regulated waste, such as hospitals, blood banks, and pharmaceutical manufacturers; and small-quantity generators of regulated waste, such as outpatient clinics, medical and dental offices, long-term and sub-acute care facilities, veterinary offices, municipalities, and retail pharmacies.

To review Stericycle’s stock, please take a look at the 1-year chart of SRCL (Stericycle, Inc.) below with my added notations:

 

For the last (5) months SRCL has been stuck within a common pattern known as a rectangle. Rectangle patterns form when a stock gets stuck bouncing between a horizontal support and resistance. A minimum of (2) successful tests of the support and (2) successful tests of the resistance will give you the pattern. SRCL’s rectangle pattern has formed a $95 resistance (red) and a $90 support (navy). A break above $95 would also be a new 52-week high.