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Synovus Finl Rises 1.24% on Heavy Volume: Watch For Potential Pullback

By James Quinn

Synovus Finl (NYSE:SNV) traded in a range yesterday that spanned from a low of $44.21 to a high of $45.12. Yesterday, the shares gained 1.2%, which took the trading range above the 3-day high of $45.05 on volume of 428,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Synovus Finl share prices have moved between a 52-week high of $45.38 and a 52-week low of $26.90 and are now trading 68% above that low price at $45.10 per share. Over the past week, 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 Finl 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 Finl have risen 7.9%. We continue to monitor SNV for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders synovus finl

Ticker(s): SNV