August 23 Chart of the Day - Syncronoss
Precision oriented price action technical analysis by far provides the best edges and most setups for traders and investors across the markets so that's what we use for the basis of our reviews
Synchronoss Technologies, Inc. (SNCR) delivers personal Cloud solutions, empowering service providers to establish secure and meaningful connections with their subscribers.
By request we will review their chart from a price action technical analysis perspective.
We have featured over 250 Charts of the Day since May 2023 and teach Price Action Trading for FREE to traders who join our Highly Rated Trade Room.
Monthly Chart
On the monthly chart we can see that after setting its $54.05 all time high (ATH) back in 2014 price has fallen dramatically all the way down around under $1 area during the last decade.
Since then, price has bounced significantly.
Weekly Chart
On the weekly chart we can see with much more clarity the dramatic fall from ATHs, and the recent bounce back up. The bulls are attempting to make a series of higher highs and higher lows.
This chart provides a great example of how price action technical analysis can provide insights and potential levels of interest across any chart and all time frames.
Only time will tell for sure what price will do next...
We've layered in traditional Fibonacci levels as well as support/resistance and trend to help identify potential price levels of interest and/or future price targets.
Armed with precision oriented charts like these both traders and investors can formulate their respective plans.
So what's next?
We don't make predictions...
Nobody knows for sure but using these 5 price action tools traders and investors can develop levels of interest in both directions.
- Support/Resistance
- Trend
- Fibonacci
- Supply/Demand Zones,
- Change Control Zones
ChartPros provides the exact methodology in its price action technical analysis courses to create charts like this with the most precise and accurate levels from which investors and traders can formulate their respective trade plans.
Take a look at the charts and let us know what you think. We'd like to hear from you in the comments sections.
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