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Look for Shares of Synchrony Financ to Potentially Rebound after Yesterday's 1.29% Sell Off

By Shiri Gupta

Synchrony Financ (NYSE:SYF) traded in a range yesterday that spanned from a low of $29.43 to a high of $29.76. Yesterday, the shares fell 1.3%, which took the trading range below the 3-day low of $29.70 on volume of 2.1 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, shares of Synchrony Financ have traded between a low of $28.33 and a high of $40.59 and are now at $29.67, which is 5% above that low price. The 200-day and 50-day moving averages have moved 0.13% lower and 1.26% lower over the past week, respectively.

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: rebounders synchrony financ

Ticker(s): SYF