Sierra Wireless Tanks

em>Joel Elconin is the co-host of

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Sierra Wireless

shares are trading lower by $1.67 at $24.21 in Monday's session. With no relevant news out on the issue, let's examine the technicals to come with an explanation for today's sharp decline. After a lower open ($25.50 compared with Thursday's close of $25.88), it managed a brief pop tio $25.65 before collapsing, . The momentum on the downside was accelerated when the issue breached its former low for the move ($24.31), reaching $23.81 before rebounding back over $24. The current low coincides with October 16 low ($23.95) Today's decline it taking place on heavier than average volume. So far, 560K shares have traded compared with its 20 day average of 549K with over two hours remaining in the session.