• Return to Headlines

Possible Bullish Inside Day Candle Pattern Detected for Synovus Financial (NYSE:SNV)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Synovus Financial (NYSE:SNV) based on the price action in the company's shares. Today's price range of $27.36 and $27.84 is within yesterday'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 Synovus Financial may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Potential upside of 19.1% exists for Synovus Financial, based on a current level of $27.75 and analysts' average consensus price target of $33.06. The stock should run into initial resistance at its 50-day moving average (MA) of $29.37 and subsequent resistance at its 200-day MA of $30.36.

In the past 52 weeks, Synovus Financial share prices have been bracketed by a low of $25.48 and a high of $33.80 and are now at $27.75, 9% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.0%.

Synovus Financial Corp. is a financial services holding company that provides various financial services. The Company, through its subsidiaries, provides commercial and retail banking, as well as investment services, to customers in Georgia, Alabama, South Carolina, Florida and Tennessee.

SmarTrend is monitoring the recent change of momentum in Synovus Financial. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Synovus Financial in search of a potential trend change.

Keywords: bullish inside day candle synovus financial

Ticker(s): SNV