Bearish Moving Average Cross by Synaptics (SYNA)
Synaptics (NASDAQ:SYNA) shares have crossed bearishly below their 10-day moving average of $57.53 on a volume of 223K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.
In the past 52 weeks, Synaptics share prices have been bracketed by a low of $47.09 and a high of $102.50 and are now at $56.60, 20% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has declined 1.2%.
SmarTrend recommended that subscribers consider buying shares of Synaptics on August 5th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $56.07. Since that recommendation, shares of Synaptics have risen 4.7%. We continue to monitor SYNA for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses synaptics