SYF pushes through prior session high
Synchrony Financial (SYF) Technical Analysis Report for Sep 14, 2018
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.
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.
Even though both sentiments are bullish for the next trading day, the classical technical analysis metrics are only slightly bullish while our quantitative statistics show a bullish sentiment.
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