SRCL support=53.3, upside target=58

A reader requested a chart for SRCL:

SRCL is in the shown downward channel. It is sitting on support at 55.4 and backtesting the downward sloping channel trendline. If SRCL fails the backtest then it's headed for support at 53.3. SRCL has to close above 55.7 to make a sustained up move.

Provided the market doesn't rollover, I think SRCL will dip to 55 before rallying above 56. Upside resistance is at 58. If SRCL drops below 53.3 then it's a long drop to the next gap support at 50.