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Synovus Financial Looks to Continue to Trade Above its Annual-High Share Price Today

By James Quinn

Synovus Financial (NYSE:SNV) traded at a new 52-week high today of $44.36. So far today approximately 109,000 shares have been exchanged, as compared to an average 30-day volume of 1 million shares.

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.

Synovus Financial (NYSE:SNV) is currently priced 3.7% above its average consensus analyst price target of $42.43. The stock should find initial support at its 200-day moving average (MA) of $30.36 and further support at its 50-day MA of $29.37.

Synovus Financial share prices have moved between a 52-week high of $44.36 and a 52-week low of $25.48 and are now trading 73% above that low price at $44.08 per share. 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 31st, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $41.22. Since that recommendation, shares of Synovus Financial have risen 6.0%. We continue to monitor SNV for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows synovus financial

Ticker(s): SNV