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Synchrony Financ Crosses Below its 10-day MA (SYF)

By Shiri Gupta

Today, shares of Synchrony Financ (NYSE:SYF) have crossed bearishly below their 10-day moving average of $29.64 on a volume of 888K shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, Synchrony Financ share prices have been bracketed by a low of $28.33 and a high of $40.59 and are now at $29.49, 4% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.3% while the 200-day MA has remained constant.

SmarTrend recommended that its subscribers protect gains by selling shares of Synchrony Financ on June 27th, 2018 by issuing a Downtrend alert when the shares were trading at $33.41. Since that call, shares of Synchrony Financ have fallen 10.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses synchrony financ

Ticker(s): SYF