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>>3 Huge Stocks on Traders' Radars
From a technical perspective, SWIR ripped sharply higher here right above some near-term support at $16.10 with above-average volume. This stock has been uptrending strong for the last month, with shares skyrocketing higher from its low of $12.02 to its recent high of $18.28. During that move, shares of SWIR have been consistently making higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of SWIR within range of triggering a near-term breakout trade. That trade will hit if SWIR manages to take out its 52-week high at $18.28 with high volume.
Traders should now look for long-biased trades in SWIR as long as it's trending above Wednesday's low of $16.41 or above more support at $16.10 and then once it sustains a move or close above its 52-week high at $18.28 with volume that hits near or above 247,612 shares. If that breakout hits soon, then SWIR will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that move are $22 to $25.