SWIR Upside Potential: Follow-on Effect of Smartphone Market

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This long term graph exhibits a cup pattern which will form a handle in a conservative estimate of less than a year. The retracement by the handle, using Fibonacci Retracement , is expected to be in the range of 15.60 to 18. The subsequent retracement should be followed by the rally which will break through the red resistance line at 27.14.

In addition, MACD already entered the positive region and CCI indicates accumulation supporting the recent rally from 6.64 in the beginning of 2012. For now, the confirmation marked by the handle is required to rate SWIR             a BUY. Closely monitoring for this until the end of a year from now may open up the gateway to a huge upside with the price target of at least 38.
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