After Synacor (SYNC) gained 3 days in a row from $7.54 on August 21st to $8.61 on August 24th for a gain of $1.07 or 14.2% on total 3 day volume 3,227,113, SYNC saw some healthy profit taking yesterday and dipped $0.47 to $8.14 on relatively light volume of 592,696. SYNC will resume its uptrend in the days ahead and NIA believes SYNC will explode as soon as it breaks $9.
Between August 13th when SYNC's IPO lock-up agreement expired and August 24th (this past Friday), SYNC traded 10.7 million shares at an average closing price of $8.17. Yesterday's profit taking was actually bullish and very healthy. When you have a stock trade 10.7 million shares in a two week period and finish that period at its highest close in two weeks, just about everybody who purchased that stock for the first time during the period is making a profit.
With SYNC closing Friday at $8.61 up $0.44 from its average closing price over the prior two weeks of $8.17, investors who purchased the 10.7 million shares traded were up $4.71 million on those shares. Therefore, yesterday's retracement was necessary so that SYNC can breakout above $9. NIA believes $9 is the level that SYNC needs to break for it to be added onto everybody's radar screens and explode!
Although SYNC made a dip yesterday, after SYNC breaks $9 it is likely to fly straight to $10 without dipping. Even though $10 is a round number, we expect little resistance at $10. SYNC's first resistance level isn't until $10.82, which is SYNC's 100-day moving average. SYNC's 50-day moving average isn't until $11.56.
SYNC bounced strongly at $8 early Monday morning and later in the day bounced strongly at $8.05. In the last hour of trading SYNC had a strong floor at $8.10 with massive accumulation taking place! Most if not all of the weak hands are now gone and SYNC could break $9 and explode any day now! SYNC is now in a very solid up trend that will continue until SYNC reaches a fair valuation. The $2 billion video delivery platform market is expected to double in size by 2017 and SYNC was just named the leader in its space: http://www.cedmagazine.com/news/2012/08/report-2b-video-delivery-platforms-market-to-double-by-2017
Tuesday morning is probably the last chance anyone has to accumulate SYNC for anywhere near $8 per share! When SYNC breaks $9, double-digits will come very rapidly and $8 will never be seen again, in our opinion!
NIA mistakenly said that the Republican Convention begins Monday night, but it actually got delayed until Tuesday night. NIA will be releasing a major report about SYNC's TV Everywhere technology authenticating for CNN's Republcian Convention coverage on Tuesday evening. NIA will also have a major press release Tuesday evening to the nationwide newswire about its report, which will also discuss CNN's TV Everywhere coverage of the event and SYNC authenticating for it! NIA will also be releasing its brand new eagerly anticipated video about Paul Ryan!
NIA is not an investment advisor and is not making any target prices or financial projections. Never invest based on anything NIA says. Always do your own research and make your own investment decisions. NIA never recommends to buy or sell any stock.
Disclaimer: NIA currently owns 486,035 shares of SYNC. NIA intends to sell these shares in the future and can do so at any time. NIA reserves the right to add to its SYNC position at any time.
NIA is not an investment advisor. This email is not a solicitation or recommendation to buy, sell, or hold securities. Never make investment decisions based on anything NIA says. This email is meant for informational and educational purposes only and does not provide investment advice.
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