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Synaptics Bearish Moving Average Crossover Alert (SYNA)

Published on Mon, 04/15/2013 - 11:26
By Adrienne Chilton

Synaptics (NASDAQ:SYNA) shares have crossed bearishly below their 10-day moving average of $39.24 on a volume of 111K shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.

Synaptics share prices have moved between a 52-week high of $41.49 and a 52-week low of $22.58 and are now trading 71% above that low price at $38.72 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.3% while the 200-day MA has risen 1.0%.

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 (NASDAQ:SYNA) is currently priced 0.0% above its average consensus analyst price target of $38.71. The stock should find initial support at its 50-day moving average (MA) of $36.76 and further support at its 200-day MA of $29.76.

By Adrienne Chilton