SIERRA WIRELESS INC (SWIR)

[value1008]

This one is sure getting hammered today. I've been buying different tranches in $24s. I don't believe this will fall into $23s but i've been wrong before. That's where i was trying to buy it in early May before SWIR took off for higher trading range.

Rising 200dma on both the daily chart & weekly chart at 23.05 should provide very strong support here. RSI on daily chart is very oversold right now at 27.4. This selloff seems like it's reached overkill level, unwarranted on just 10% dilution and the $20M payoff of Numerex's debt. SWIR ceo is very bullish on synergies with this deal, even if earnings from Numerex won't be accretive for another 18 months or so (assuming deal holds).