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ShadowTrader Free Trade Idea of the Week – SNCR – Trendline Rever…

Each week Peter and his minions scour the markets to find the best equity and forex setups for the followers of the Swing Trader and FX Trader. Premium subscribers get 2-5 of these daily. Every weekend we present one trade idea from either the equity or the forex side here.Note: Free weekly trade ideas are strictly DIY (do it yourself!) and are not actively managed or updated once presented and may or may not be stocks that are currently in play in our newsletters. For a more “full service” feel, with real-time email alerts and updates, please check out the ShadowTraderPro Swing Trader and ShadowTraderPro FX Trader.

Synchronoss Tech Inc. (SNCR) – Long
Entry – 26.69
Stop – 25.23

Target – 30.00

The red arrows highlight the double bottom that has formed in SNCR over the past two weeks.  The stock has veered from the descending trendline enough where the trendline will now start to act as a magnet to attract price back for the first test.  We’re looking to take advantage of this trendline reversion by SNCR with a long position.

For an average of 2-5 trade ideas like this every day along with daily market analysis and trading guidance, follow the ShadowTraderPro Swing Trader. This service is now available for FREE.  All you have to do is click on “Tools” tab on your TOS platform or go to www.MyTrade.com and “follow” ShadowTraderPro Swing Trader.


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