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Look for Shares of Synovus Finl to Potentially Rebound after Yesterday's 2.53% Sell Off

By David Diaz

Synovus Finl (NYSE:SNV) traded in a range yesterday that spanned from a low of $42.45 to a high of $44.27. Yesterday, the shares fell 2.5%, which took the trading range below the 3-day low of $43.50 on volume of 836,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, Synovus Finl share prices have been bracketed by a current low of $42.57 and a high of $57.40 and are now at $42.63. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.8%.

SmarTrend recommended that its subscribers protect gains by selling shares of Synovus Finl on June 25th, 2018 by issuing a Downtrend alert when the shares were trading at $54.29. Since that call, shares of Synovus Finl have fallen 19.8%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders synovus finl

Ticker(s): SNV