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Bearish Moving Average Cross by Synovus Finl (SNV)

By Shiri Gupta

Today, shares of Synovus Finl (NYSE:SNV) have fallen below their 10-day MA of $33.23 on a volume of 276K shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, Synovus Finl share prices have been bracketed by a low of $29.93 and a high of $56.11 and are now at $33.07, 10% above that low price. The 200-day and 50-day moving averages have moved 0.66% lower and 0.31% lower over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Synovus Finl on March 21st, 2019 by issuing a Downtrend alert when the shares were trading at $36.25. Since that call, shares of Synovus Finl have fallen 7.8%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses synovus finl

Ticker(s): SNV