Tuesday, September 22, 2015

SYNC Synacor Daily Chart Falling Wedge Positive Divergence

Cloud-based services company SYNC is a interesting knife-catch long play. Keystone opened up a long position in SYNC Friday and will likely add as time moves along. The daily and weekly charts are positively diverged (green lines) hinting that price wants to break out from the upper trend line of the bullish falling wedge pattern. Price is extended down below the moving averages so a mean revesion higher is needed. As always, these positive divergence plays are highly speculative and dangerous. SYNC is up +0.7% in today's down tape, so far, an encouraging sign for Synacor bulls if it sticks. SYNC may also be a takeover target but you never buy a stock for this reason since waiting for a buyout may be like waiting for Godot. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.

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