RSC Being Accumulated?
Looking at the RSC chart below, I think the stock may be undergoing accumulation again.
If my analysis is correct, this is the 5th accumulation period for this stock. After every time period like this except one, the stock has broken out and reached new highs. The gains ended with a big volume spike (distribution) that signalled the peak for that particular rally.
The stock then gave back some gains and began a new accumulation period. These can be identified by low volume and very tight trading ranges. These characteristics usually signify that there is some professional buying and controlling going on.
I myself might establish a small speculative position in RSC because it really seems to be setting itself for a breakout soon. I have no idea exactly when, but I think it will coincide with a very positive news release.
The only thing I have to decide on before buying in is a stop loss point. Usually I simply let the 30 day moving average be my stop loss but this price is below that figure.
More to come on RSC but it certainly looks to me like there is professional buying of the stock and it should have a break out sometime soon.
By the way, if you want to know the "fundamentals" behind the stock, read the HRA recommendation.