I bought some shares of SWIR – Sierra Wireless Inc. before the close of today’s market. Strength in a stock end of day is a good sign, especially if it has some type of breakout pattern associated with it.
You can see on the weekly chart of SWIR, it took a nasty dive last July. There’s actually a gap between the $13 – $16 price range. Since then, Sierra Wireless has attempted to break higher three times without doing so. What makes this chart powerful, is that SWIR has broken to the upside on the fourth attempt where I bought. Higher lows and higher highs indicate bulls are in control.
With a rising base, and breakout on the 4th attempt, I’m betting SWIR will fill that gap to the 16 area and more.
