• Return to Headlines

Synchrony Financ Rises 1.16% on Heavy Volume: Watch For Potential Pullback

By Amy Schwartz

Synchrony Financ (NYSE:SYF) traded in a range yesterday that spanned from a low of $27.25 to a high of $27.98. Yesterday, the shares gained 1.2%, which took the trading range above the 3-day high of $27.58 on volume of 1.6 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, Synchrony Financ share prices have been bracketed by a low of $26.13 and a high of $40.59 and are now at $27.64, 6% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.7% while the 50-day MA has declined 1.2%.

SmarTrend recommended that its subscribers protect gains by selling shares of Synchrony Financ on October 11th, 2018 by issuing a Downtrend alert when the shares were trading at $29.98. Since that call, shares of Synchrony Financ have fallen 8.3%. 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