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

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Synovus Finl (NYSE:SNV) based on the price action in the company's shares. Yesterday's price range of $35.96 and $36.24 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 Synovus Finl may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

In the past 52 weeks, shares of Synovus Finl have traded between a low of $31.80 and a high of $40.41 and closed yesterday at $36.13, which is 14% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.2%.

There is potential upside of 54.9% for shares of Synovus Finl based on a current price of $36.13 and an average consensus analyst price target of $55.97. The stock should find resistance at its 50-day moving average (MA) of $37.95, as well as support at its 200-day MA of $36.07.

Synovus Financial Corp. provides financial services. The Company offers commercial, retail banking, and investment services. Synovus Financial serves customers in the United States.

SmarTrend is tracking the current trend status for Synovus Finl and will alert subscribers who have SNV in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle synovus finl

Ticker(s): SNV