SYF ends the day on a bullish note closing near the high of the day


Synchrony Financial (SYF) Technical Analysis Report for May 17, 2018 [< 1 min read]
Highlights
SYF closes higher for the 3rd day in a row
SYF ends the day on a bullish note closing near the high of the day
SYF pushes through previous session high
SYF rises to highest close since April 20th
TQ Sentiment
Report Sentiment: 40% Bullish
Technical Forecast:
Overview

Moving higher for the 3rd day in a row, SYF ended Thursday at 34.93 gaining $0.34 (0.98%). Today's closing price of 34.93 marks the highest close since April 20th. Closing above Wednesday's high at 34.76, the share confirms its breakout through the prior session's high having traded $0.24 above it intraday. Ending with a strong close near the high of the day sets a bullish note for the next session.

Daily chart for SYF
Volatility

Thursday's trading range was $0.53 (1.53%), that's below last trading month's daily average range of $0.70. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly above average.

Support/Resistance

Prices are trading close to the key resistance level at 35.34.

Trend

Though Synchrony Financial is experiencing a short-term up trend, this might just be a correction, as both the medium and long term trends are still in negative territory.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Market Conditions for Synchrony Financial
Condition Forecast Direction Win Avg Worst Best Events
Close to S1 Support TQ Pro Members Only
Tweezer Top TQ Pro Members Only
Bullish Break through SMA 20 TQ Pro Members Only
Bullish Bounce off SMA 20 TQ Pro Members Only
Bounced off Technical Support S1 TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

SYF finds buyers at key support level

Aug 17, 2018
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