Sierra Wireless (SWIR - Get Report) is engaged in the development of wireless technologies and solutions. Sierra Wireless provides wireless solutions for the machine-to-machine and mobile computing markets. This stock is trading up 4.5% at $9.67 in recent trading.
Today's Range: $9.29-$9.6752-Week Range: $6.02-$11.88 Volume: 92,000 Three-Month Average Volume: 143,108 >>5 Telecom Stocks Breaking Out Ahead of Earnings From a technical perspective, SWIR is jumping sharply to the upside here with decent volume. This move is showing some follow-through momentum buying after the stock bounced right off its 50-day moving average of $8.79 with decent volume on Monday. This spike higher today is also pushing SWIR within range of triggering a major breakout trade. That trade will trigger once SWIR takes out some near-term overhead resistance levels at $9.53 to $9.77 with high-volume. Traders should now look for long-biased trades once SWIR sustains a move or close above $9.53 to $9.77 with volume that's near or above 143,108 shares. If we get that action soon, then SWIR will setup to re-test and possibly take out its next major overhead resistance levels of $12 to $12.50. Keep in mind that the only way SWIR can reach those levels is if the stock maintains a trend over $9.77 with strong upside volume flows. Sierra was included on a list of 13 Tech Stocks to Buy in 2012.