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Synaptics Crosses Above its 10-day MA (SYNA)

Published on Wed, 02/27/2013 - 12:19
By Mallory Stone

Today, shares of Synaptics (NASDAQ:SYNA) have crossed bullishly above their 10-day moving average of $34.26 on a volume of 111K shares. This may provide swing traders with an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

There is potential upside of 12.2% for shares of Synaptics based on a current price of $34.49 and an average consensus analyst price target of $38.71. The stock should discover initial support at its 50-day moving average (MA) of $32.30 and subsequent support at its 200-day MA of $28.00.

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.

In the past 52 weeks, Synaptics share prices have been bracketed by a low of $22.58 and a high of $39.89 and are now at $34.49, 53% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.3% while the 200-day MA has risen 0.3%.

By Mallory Stone