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Possible Bearish Inside Day Candle Pattern Detected for Synchrony Financ (NYSE:SYF)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Synchrony Financ (NYSE:SYF) based on the price action in the company's shares. Today's price range of $33.36 and $33.56 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Synchrony Financ may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Synchrony Financial operates as a consumer financial services company. The Company provides a range of credit products through programs we have established with a diverse group of national and regional retailers, local merchants, manufacturers, buying groups, industry associations, and healthcare service providers.

Synchrony Financ has overhead space with shares priced $33.47, or 23.8% below the average consensus analyst price target of $43.93. Synchrony Financ shares should first meet resistance at the 200-day moving average (MA) of $34.62 and find additional resistance at the 50-day MA of $35.04.

In the past 52 weeks, shares of Synchrony Financ have traded between a low of $10.38 and a high of $38.18 and are now at $33.47, which is 222% above that low price. The 200-day and 50-day moving averages have moved 0.05% lower and 0.72% lower over the past week, respectively.

SmarTrend is tracking the current trend status for Synchrony Financ and will alert subscribers who have SYF in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle synchrony financ

Ticker(s): SYF