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Synovus Financial Bearish Moving Average Crossover Alert (SNV)

By Shiri Gupta

Synovus Financial (NYSE:SNV) shares have crossed bearishly below their 10-day moving average of $31.84 on a volume of 345K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, shares of Synovus Financial have traded between a low of $25.48 and a high of $33.80 and are now at $31.14, which is 22% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.0%.

SmarTrend recommended that subscribers consider buying shares of Synovus Financial on March 4th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $29.07. Since that recommendation, shares of Synovus Financial have risen 12.0%. We continue to monitor SNV for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses synovus financial

Ticker(s): SNV