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Strategies & Market Trends : Ask Vendit Off-Topic Questions -- Ignore unavailable to you. Want to Upgrade?

To: MJ who wrote (7204)	3/31/2005 10:48:51 PM
From: Walkingshadow	Respond to of 8752

SYNC has moved powerfully after the gap up and huge volume day in February (7 times normal volume); that was followed by several more gap ups on big volume. All of this indicates professional buying, and together with the ramp up in volume over the past 3 months or so, this will sustain an uptrend in SYNC. SYNC is, therefore, in a long-term uptrend. This is confirmed by the chart: stockcharts.com[w,a]daclyyay[dd][pb50!b200][vc60][iLyb20,2.0]&pref=G Note that SYNC just exploded through critical resistance at the 200 sma and hasn't looked back, setting higher highs and higher lows in the process. Just about 10 days ago or so there was a bull cross. SYNC is very definitely in the early stages of a long-term uptrend. That makes it a good medium-term or long-term trade/investment IMHO. Short term, SYNC has gotten ahead of itself, and is due for a correction soon. However, there are absolutely no indications in the momentum indicators that this is imminent. The only suggestion that SYNC will correct are the shadow above the past several candles (and today's candle), together with the blown-open BBs and the overbought status. 139.142.147.221 I think tomorrow we will probably see some profit taking and technical weakening, then correction back to support (i.e., old resistance). That would represent a very good entry point for SYNC IMHO. I think it likely that SYNC will move mostly sideways while it corrects, just like it did at the beginning of March. The 20 ema would be an excellent place to lie in wait for an entry. I don't think SYNC will likely correct much more than that: 139.142.147.221 So personally, I would wait for a bit of correction before entering this stock, and pray that it can correct back to the 20 ema soon. A buy limit order there would probably be the way to go. One could consider long-term call options as well; SYNC trades Jan 2006 and Jan 2007 contracts. T