Synacor (SYNC) broke out past its key resistance level of $5.47 this morning, which was the high set on November 15th. SYNC's volume today has already surpassed 1 million. SYNC should breeze through $6 very easily. After breaking the 50-day moving average of $6.28, SYNC should rapidly rise to $7.50 before testing the 100-day moving average of $8.32.
This is just the second inning of a rally that NIA believes will rapidly take SYNC back to double-digits in the upcoming weeks and new 52-week highs by March. The majority of the 2 million shares that were sold short at the end of October, still need to cover and are about to get squeezed in the days ahead.
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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