Synchronoss Technologies, Inc - Bullish divergence** Risky Investment opportunity - $200m market cap **
Happy with the risk? Read on…
As the year comes to a close I look for those value stocks, that is stocks that appear to be very undervalued, and are now showing strong bullish signals for the year ahead. I then publish them freely for all, aren’t you lucky?
On the above 10-day chart price action has corrected 95% since late 2016 from 50 to 2.60 without any share splits. Can you believe that? Now is an excellent time to be bullish, why?
1) Price action prints an oversold condition @ $12 back in 2017.
2) A regular bullish divergence emerges following the oversold condition. With each new lower low in price action a higher low in RSI + MFI is printed. You can see the growing weakness in selling pressure.
3) RSI resistance breakout + support (red line). This is significant.
4) On the 2-month chart (below) a dragonfly DOJI candle printed. Such candles on this time frame should not be ignored, they are powerful. Previous events highlighted.
As technology stocks go it is surprising to find those amongst the big overbought stocks, but they do exist. Certainly worth a look over as businesses using synchronoss continue to grow in number:
synchronoss.com
Is it possible price action falls further? Sure.
Is it probable? No.
Good luck!
WW
2-month chart - Dragonfly DOJI + bullish oscillators
SNCR trade ideas
Falling wedge on Penny stock #SNCRThe stock looks higher in the following months "HOWEVER" it needs to cool down again before it start the next leg up so watch it no entry yet , you can follow me to be alerted when it's the best time to enter .
Moreover, you can't go all in once in such stock "not any other one either " you should have a money management plan if you don't , contact i'll make a one for you .
SNCR Trending UPI have been watching this stock for a few weeks now and loading up the payload as it adheres to the Cypher Pattern where it extended 72.8% and then retraced 72.8% and then the price found support at the 32.8% level as of 12/11/20. The payload is now secure and lift off has commenced.
$SNCR Synchronoss Technologies Has Room To Run and Gaps To Fill$SNCR has been one of the most beaten down names in the tech sector. The stock once traded as high as $52.50 a share before starting its long descent.
Now, things look to be turning for the company and its stock. Roth Capital analyst Richard Baldry initiated coverage on the cloud-based enterprise computing and messaging specialist with a buy rating and a $13 price target.
This follows the company's investor day where participants liked what they heard in terms of $SNCR longer-term growth, sales, and capital-allocation strategies.
With all the gaps needed to be filled overhead and the depressed nature of the stock, we believe $SNCR can make a serious run higher. Shares are now trading above their 20, 50 and 200-day moving averages. It would not surprise us to see a quick move to the $10 to $12 region.
As always, trade with caution and use protective stops.
Good luck to all!