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Possible Bullish Inside Day Candle Pattern Detected for Synchrony Financ (NYSE:SYF)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Synchrony Financ (NYSE:SYF) based on the price action in the company's shares. Yesterday's price range of $34.69 and $35.52 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Traders and investors interested in shares of Synchrony Financ may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Synchrony Financial operates as a consumer financial services company. The Company provides a range of credit products through programs we have established with a diverse group of national and regional retailers, local merchants, manufacturers, buying groups, industry associations, and healthcare service providers.

Synchrony Financ has overhead space with shares priced $35.20, or 22.7% below the average consensus analyst price target of $45.55. The stock should discover initial support at its 200-day moving average (MA) of $30.46 and subsequent support at its 50-day MA of $28.92.

In the past 52 weeks, shares of Synchrony Financ have traded between a low of $23.25 and a high of $40.59 and closed yesterday at $35.20, which is 51% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.9% while the 200-day MA has slid 0.3%.

SmarTrend recommended that its subscribers protect gains by selling shares of Synchrony Financ on February 6th, 2018 by issuing a Downtrend alert when the shares were trading at $36.65. Since that call, shares of Synchrony Financ have fallen 3.9%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bullish am inside day candle synchrony financ

Ticker(s): SYF