Helping Samsung beat Apple is making Synaptics stock soar. Synaptics is a San Jose, Calif.-based supplier of human interface solutions, mostly for touch applications This morning, Synaptics stock was up about $20, an inordinately large move after about $12 gain after hours Tuesday in the wake of an earnings report.
Let us start by looking at the annotated chart.
Please click here for the chart.
The Arora Report’s target zone for Synaptics /quotes/zigman/87211/delayed/quotes/nls/syna SYNA -0.68% has been $100-$110. This target is now la lot closer than when it was first given about a month ago. However, this is a very volatile stock that moves in a very wide range. For this reason, our call is to take partial profits on the gap up shown on the chart. The plan is to patiently wait for a dip in the buy zone to initiate or add to the existing position. If the overall market experiences a 5%-7% correction, it is more likely than not that there will be an opportunity to buy in the zone shown on the chart before a march to $100.
Synaptics now projects full-year 2014 revenue of $933M-$943M vs. a consensus of $918.5M. It raised its fourth-quarter revenue view to $300M-$310M from $275M-$295M vs. consensus $286M. Read more at MarketWatch or ZYX Buy Change Report.