Synaptics Incorporated stock is likely to continue its upward movement.

The valuation of the company is reasonable with an EV/Revenue ratio of 1.62x for 2016. EPS are expected to increase by 141% this year. Analysts covering the stock target on average USD 91.6, which proves that there is still an appreciation potential.

Technically, the stock evolves in a bullish trend in the short term. Prices has rebounded recently, drawing an upward gap and crossing the old USD 79.3 resistance. The movement is likely to continue towards the USD 85.9 and USD 92.7 weekly resistance.

Therefore, long position can still be opened to benefit from the upward movement. The target price will be set at USD 92.7 and a stop loss will be placed under the USD 79.3 pivot point.