SWIR – 22 November 2013

simple trading

MeatinSpace asks what Redditors think of SWIR, a recent Motley Fool pick.

The stock has had a nice run higher since late September.  The stock peaked on October 17 causing the stock to trace out a 50% pullback.  That pullback bottomed on November 8 in the Magnet Zone, then went on to break through the previous high.  Price has traced another near 50% pullback from the most recent high and has since started to ascend again.

In our view, SWIR is fairly healthy and ready to make a run higher.  Buy signals may be taken in this area with a stop in the $18.50 area.  If the $18.50 area is broken, long setups should still be preferred as long as price can stay above the $17.50 area.