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Possible Bearish Inside Day Candle Pattern Detected for Synaptics Inc (NASDAQ:SYNA)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Synaptics Inc (NASDAQ:SYNA) based on the price action in the company's shares. Yesterday's price range of $32.65 and $33.48 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Synaptics Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Synaptics Inc (NASDAQ:SYNA) has potential upside of 60.5% based on a current price of $32.72 and analysts' consensus price target of $52.50. The stock should find resistance at its 200-day moving average (MA) of $35.54, as well as support at its 50-day MA of $30.10.

Synaptics Incorporated develops custom-designed user interface solutions. The Company's solutions enable people to interact with a variety of mobile computing and communications devices. Synaptics offers a touch-sensitive pad that senses the position of a person's finger on its surface to provide screen navigation, cursor movement, and a platform of interactive input.

Synaptics Inc share prices have moved between a 52-week high of $48.74 and a 52-week low of $26.34 and closed yesterday at 24% above that low price at $32.72 per share. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 1.3%.

SmarTrend is tracking the current trend status for Synaptics Inc and will alert subscribers who have SYNA in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle synaptics inc

Ticker(s): SYNA