Synacor (SYNC) is a provider of startpages, TV Everywhere solutions, Identity Management services and various cloud-based services across multiple devices for cable, satellite, telecom and consumer electronics companies. This stock closed up 5.6% to $3.17 in Tuesday's trading session.
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.
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