The update below shows that subsequent to that model being posted, Synaptics got into serious rally mode based on many things including buyout offers from nebulous Chinese 3rd parties. Gee, I'm so shocked at this. How could anyone ever have guessed if could likely happen?
Well folks, here we are at about mid channel and the stock is trying to make a decision between red or blue. It really can go either way a this point. It is a diamond balanced on a knife edge like that. Even though this has busted out past center channel, I'm still going to suspect that the red path will be primary. In fact, a reversal at about this level would make a fine H+S breakdown and if that occurs then the lower rail will be taken out and nearly the entire rising wedge will likely retrace.
Folks, this is about odds and not about certainties. Nobody can be certain about the future. But these rising wedges TEND to be inherently unstable. The technical sell signal is when the chart either goes from current levels down through $74 (red path) OR when the chart breaks the top rail and then comes back down into the channel (blue path).
Good luck, fellow gamblers.
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