The Chart of the Day is Sierra Wireless (SWIR). I found the stock by sorting the New High List for frequency then made sure the stock had positive gains for the last week and last month. Since the Trend Spotter signaled a buy on 9/20 volume has picked up and the stock has gained 35.69%.
It is a provider of wireless data communications products. The company delivers wireless PC Cards for portable computers, wireless adapters for PDA's, OEM modules for embedded applications and rugged vehicle-mounted wireless systems.The company is the founding member of the Wireless Ready Alliance, an alliance of industry-leading hardware, software and service companies committed to the delivery of complete and compelling wireless data solutions.
Please notice how volume and price momentum coincide on the chart below:
Barchart technical indicators:
- 100% Barchart technical buy signals
- Trend Spotter buy signal
- Above its 20, 50 and 100 day moving averages
- 16 new highs and up 63.70% in the last month
- Relative Strength Index 74.94%
- Barchart computes a technical support level at 18.37
- Recently traded at 19.97 with a 50 day moving average of 14.39
Fundamental factors:
- Market Cap $613.83 million
- P/E 75.30
- Revenue projected to grow 12.10% next year
- Earnings estimated to increase 230.00% next year and continue to increase at an annual rate of 12.00% for the next 5 years
- Wall Street analysts issued 4 strong buy, 3 buy and 4 hold recommendations on this stock.
When stocks move up this fast volume and price can fall just as fast. Watch for weaknesses in volume and the 50 day moving average to time an exit.
