Sharps Compliance Is Showing an Interesting Uptrend

 | Dec 04, 2015 | 11:00 AM EST
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Sharps Compliance (SMED) has been in an uptrend the past year and more gains may lie ahead. 

Uptrends have corrections and interruptions. In this chart of SMED, a Houston-based waste management services provider, above, the corrections have been either sideways or they have been to the downside like the most recent pullback. SMED is above its rising 50-day and 200-day moving average. There is a strong and rising On-Balance-Volume (OBV) line. The trend following Moving Average Convergence Divergence (MACD) oscillator has turned up and is crossing the zero line, telling us that we are in an uptrend.

This three-year chart of SMED is also very positive with prices above the rising 40-week moving average. The OBV line is improving and MACD oscillator is correcting. SMED is likely to trade sideways a while longer before making another upside attempt, so buyers should take their time and use available weakness toward $8 for purchases. 

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