Sirtex (SRX) breaking higher

by Michael Gable

The chart may not seem spectacular at first glance so it is easy to miss the fact that SRX has doubled in price over the course of this year. It looks uneventful because the trend is sustainable. The share price will rally strongly for a short period of time and then undergo a fairly flat correction for a longer period of time as it absorbs the recent rally. This is very bullish. Once again SRX has spent the last several weeks drifting sideways before finally breaking clear of this last week. At the moment it is not going anywhere in a hurry, but provided that it can stay above this downtrend line, we would expect to see at least a few dollars upside from here.

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