From a technical perspective, SYNC ripped higher here right above some near-term support at $2.96 with lighter-than-average volume. This stock has been finding buying interest over the last month and change whenever it has pulled back to $3 or around $2.85. Shares of SYNC are now quickly moving within range of triggering a major breakout trade. That trade will hit if SYNC manages to take out some near-term overhead resistance levels at $3.23 to its 50-day at $3.32 and then once it clears more resistance at $3.35 with high volume.
Traders should now look for long-biased trades in SYNC as long as it's trending above some near-term support at $2.96 and then once it sustains a move or close above those breakout levels with volume that hits near or above 218,000 shares. If that breakout triggers soon, then SYNC will set up to re-test or possibly take out its next major overhead resistance levels at $3.98 to $4.17. Any high-volume move above those levels will then put its 200-day at $4.36 into range for shares SYNC. http://www.thestreet.com/story/11987102/1/2-tech-stocks-gearing-up-to-break-out.html?puc=yahoo&cm_ven=YAHOO
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