IoT + M2M Sector Overview – Potentially Bullish Chart Set-ups For SWIR, MIFI, SIGM

by Olivier on February 3, 2015

Quick update with my thoughts on a few stocks that are part of the IoT ‘Internet Of Things’ and the M2M ‘Machine To Machine’ sector.

The annotations I drew into the chart reflect my bullish bias for SWIR – Sierra Wireless, SIGM Sigma Designs and especially for MIFI Novatel Wireless.

  • SWIR – If the stock can move up in the near term it looks like it will set up a bullish ascending triangle
  • MIFI – I expect the upper trend line to be tested again. Then the next batch of news will determine the fate of MIFI. In view of MIFI’s recent strength and its extremely low valuation I still see the stock going much higher.
  • SIGM – I see further weakness first, then the chart should start to build a constructive and bullish ascending triangle pattern.

Technical analysis is a great tool to gauge odds of future price development, but if price doesn’t confirm my bullish assumptions I change my mind accordingly. No hard feelings.

Click to enlarge IoT + M2M Sector Overview Chart:

Once we realize that imperfect understanding is the human condition there is no shame in being wrong, only in failing to correct our mistakes. – George Soros


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