Home » Watchlist Week of July 11th, 2022

Watchlist Week of July 11th, 2022

Sierra Wireless, Inc. (Long Idea)

Sierra Wireless, Inc. (SWIR) is a Canadian designer of wireless and embedded modules, gateways and routers.

Computer networking stocks are not showing strength as a group, but SWIR has a Surge Score of 99/100. 

In other words, it is outperforming 99% of stocks.

Earnings and sales were both up big last quarter, and analysts are calling for further growth through 2023. 

TradingView Chart
Daily Chart of Sierra Wireless, Inc. (SWIR) – Source: TradingView
  • Surge score: 99/100
  • % Above 52-wk low: 86%
  • Sales growth: +60%
  • Return on Equity: N/A
  • Triple momentum: yes 

The chart looks great as well. The up/down volume ratio is incredibly bullish at 1.86, and institutional buyers are flocking to the stock.

SWIR has formed a pivot at the $25 level. 

In a perfect world, it would trade sideways here for a few days to absorb any sellers near the highs. 

That would make it an even higher conviction buy for me. 

But demand for this stock is high. Consider buying on new highs with a 10% stop.

Seagen Inc. (Long Idea)

Seagen Inc. (SGEN) is a biotech that has come ripping off the lows. 

Shares are up 70% in just six weeks, with almost no pullbacks along the way.

TradingView Chart
Daily Chart of Seagen Inc. (SGEN) – Source: TradingView
  • Surge score: 96/100
  • % Above 52-wk low: 71%
  • Sales growth: +28%
  • Return on Equity: N/A
  • Triple momentum: yes 

At this point, price has been consolidating for almost two weeks near the $180 level. 

There is also a fundamental catalyst in play… 

Reuters reported that Merck & Co., Inc. (MRK) is in advanced talks to buy Seagen at a price above $200 per share – more than 10% above where it trades today.

Consider buying SGEN above $182 with a stop at $167.

United Therapeutics Corporation (Long Idea)

United Therapeutics Corporation (UTHR) is another biotech stock showing tremendous strength as the general market is coming off its lows.

The stock is just entering Stage 2 and currently trades just 1% off its all-time high. 

Price action is tightening, pullbacks are becoming shallow and volume dried up for several days. 

This is exactly what we want to see pre-breakout…

TradingView Chart
Daily Chart of United Therapeutics Corporation (UTHR) – Source: TradingView
  • Surge score: 97/100
  • % Above 52-wk low: 51%
  • Sales growth: +22%
  • Return on Equity: 20%
  • Triple momentum: no

The fundamentals are also strong… Unlike many biotech stocks, which have limited revenue and negative earnings, United Therapeutics is showing solid growth in both areas. 

Earnings and sales grew by 44% and 22%, respectively, in the most recent quarter.

This stock is a potential market leader that could make a large advance if the market has indeed found the bottom. 

Consider buying UTHR here with a stop at $220.

Ross Givens
Ross Givens

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