Synchrony Financial (NYSE:SYF) Technical Analysis and Chart Patterns

Synchrony Financial (NYSE:SYF) fell by -2.48% in Thursday’s trading session from $31.42 to $30.64 and has now fallen 3 consecutive sessions. The price has been moving in both directions for this period, and there has been a -1.76% loss over 10-day period. Volume has increased in Thursday’s trading session by 3.21 million shares, but on a weak note. This is may be an early warning and the risk will be increased slightly for the next couple of days. In total, 6.60 M shares exchanged hands for about $202.21 million.

Inside SYF’s Recent Trend

Synchrony Financial (SYF) lies in the middle of a wide and weak rising trend in the short term and issued considerable signs about additional rally. Short-term traders are predicted to see a rally of 2.44% over the course of a quarter and, with 90% chance the price will be floating in the range of $29.53 and $32.55 in this timeframe.

Synchrony Financial Technical Signals

SYF has witnessed its short term MA triggering a sell signal. Meanwhile, however, the long-term average has generated a buy signal. When the short-run moving average rises above its longer-term trend, a buy signal is created. This is because a short-run moving average that crosses its long-run moving average counterpart is seen as the initiation of an upward trend. On additional rally, the share price will meet short term resistance at around $31.36. On a drop, the stock is likely to find some support over the long run, which begins at $30.22. A buy signal will be generated if it crosses above the short term moving average. Meanwhile, however, a price crossing below the long term moving average will generate a sell signal.

Synchrony Financial (NYSE:SYF) Support And Resistance Levels

Synchrony Financial (SYF) recorded volume accumulation so there will probably be a surplus of buyers at $30.34. In case of gains, the next resistance from accumulated volume will not be far away from today’s level at $30.87, $30.94 and $30.99.

Accumulated volume is going to prevent the price from rising further at $30.87 and this action will lead the price to take a temporary pause or stay muted for a few days.

Synchrony Financial (SYF) Risk Assessment

A volatility based measure Bollinger Bands suggests this stock poses high risk. In the most recent session, the stock price hovered around $0.85 between high and low, or 2.79%. The average volatility for the past week stood at 1.63%.

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