In the short term, it would appear that a descending triangle
has formed as SYNA
tests the support line. This downward movement is more or less being caused by a sell off in equities triggered by Greece. A break below support may carry SYNA
to 78. However SYNA
is near 2 STDEV's and has remained oversold now for a while. A correction may be possible. For the long term I AM BULLISH
and biometrics. SYNA's low enterprise multiple and being an industry leader makes it a possible takeover target. As well, many analysts firms have high price ratings on SYNA
going forward. SYNA
in the long run will definitely benefit from the proliferation of the internet of things.