by Sam Collins | April 9, 2014 1:59 am
Synaptics (SYNA) — This small-cap company develops, markets and sells custom-designed human interface solutions for electronic devices and products such as smartphones, tablets and ultrabooks.
I first recommended SYNA on Nov. 6, at just below $46, with an initial trading target of $51. That objective was met on Nov. 27 at a high of $51.23. On Dec. 16, I wrote that traders should have already sold their positions, but longer-term buyers may wish to hold for greater gains.
The stock continued higher, topping out just above $67 on Feb. 26, and established a bear channel with resistance at $63.
SNYA was recently identified as a possible short-sale candidate by our Profit Scanner system, which has a downside target of $44 to $47. As with all short positions, check with your broker for any special requirements and the ability to borrow the stock. A stop-loss order should be entered at $64.
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