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


Technical Analysis Report for SYF - 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
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.

Report Market Conditions
ConditionForecastDirectionWinAvgWorstBest
Closed above last periods high TQ Pro Members Only
Close to R1 Resistance TQ Pro Members Only
3 Consecutive Higher Closes TQ Pro Members Only
Up Close near high of period TQ Pro Members Only
More market conditions identified for TQ Pro members...
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