SYF pushes through prior session high
Synchrony Financial (SYF) Technical Analysis Report for Sep 14, 2018 | by Techniquant Editorial Team
SYF ended the week 2.71% higher at 32.59 after gaining $0.38 (1.18%) today. Today's closing price of 32.59 marks the highest close since July 25th. Closing above Thursday's high at 32.47, the stock confirms its breakout through the previous session's high having traded $0.24 above it intraday.
Daily Candlestick Chart (SYF as at Sep 14, 2018):
Friday's trading range was $0.52 (1.61%), that's slightly above last trading month's daily average range of $0.51. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being below average.
In a volatile session, prices traded above the prior day's high as well as below the previous day's low, forming a bullish Outside Bar.
Synchrony Financial found buyers again today around 32.19 for the third trading day in a row after having found demand at 32.20 in the prior session and at 32.17 two days ago.
Although the market is experiencing a short-term up trend, this could just be a correction, as both the medium and long term trends are still in negative territory.
Buying might speed up should prices move above the close-by swing high at 32.71 where further buy stops could get triggered.