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Synovus Finl Set to Possibly Pullback After Yesterday's Rally of 1.24%

By Shiri Gupta

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.

In the past 52 weeks, shares of Synovus Finl have traded between a low of $26.90 and a high of $45.38 and are now at $45.10, which is 68% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.0% while the 200-day MA has remained constant.

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