Synchronoss Technologies (SNCR)

Company

SNCR
SNCR 1-year chart

"Synchronoss Technologies, Inc. is the leading provider of on-demand transaction management solutions to the communication service provider (CSP) market. Our proprietary ConvergenceNow™ software platform enables CSPs to take, manage, and provision orders and other customer-oriented transactions and create complex service bundles." (company website)

SNCR
SNCR 6-month chart

Buy

SNCR bottomed in November and has been climbing since then, albeit with significant ups and downs. Although it missed Expectations by a penny, the earnings report at the beginning of February gave the stock a big boost. It has now pulled back from the subsequent high and shows signs of starting another up-cycle. It is just below the 50-day moving average and testing the chart support line.

  • Percentage price oscillator (PPO) — below the signal line after the pullback, but showing signs of rising again
  • Volume — three big up-days after earnings

Based on technical analysis, MarketEdge calls SNCR a "strong buy" that is "oversold" and at a "good entry point."

Sell

gain Bottom line
6%

The market went totally ballistic in response to the news that Citigroup has been operating profitably for the past two months, and swept SNCR along with it. When my profits reached a tidy sum, I bailed out to lock in the profits.

SNCR's chart is quite strong, and under normal circumstances I would have held on for more profit. But these are not normal times. I say take profit whenever and wherever you can get it. And say "Thank you."

Thank you.