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Uptrend ExhaustionArchive
- 4/26/2024 -
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Synchrony Financial (SYF) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a second consecutive positive week for the Synchrony Financial (SYF). During the week, the SYF gained 3.10 points, or 7.46%, and closed at 44.67 on Friday, April 26, 2024. It was the best weekly gain since December 1, 2023. Weekly volume was 38% above average.
SYF is a member of Financials Sector. Financials is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 Long-term trend: [See SYF long-term trend chart]
A long-term downtrend had started on October 19, 2021 at 52.49 and reached 26.59 on May 4, 2023. SYF lost 25.90 points, or 49.34%, in 80 weeks. The chart has formed a Descending Triangle chart pattern. The downtrend resistance line (25.86) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. SYF may retest the broken resistance line. It is considered to be a support line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.
 Medium-term trend: [See SYF medium-term trend chart]
A medium-term uptrend had started on October 24, 2023 at 27.30 and reached 45.46 on April 26, 2024. SYF gained -18.16 points, or -66.52%, in 26 weeks. Price is near the trend high.
 Weekly Technical Indicators: [See SYF weekly technical indicators chart]
Weekly Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought Williams' Percentage Range. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Williams' Percentage Range help.
The weekly MACD line is above its signal line since December 1, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term uptrend is getting stronger. Use the following link to access a MACD help.
Short-term trend: [See SYF short-term trend chart]
A short-term uptrend had started on April 17, 2024 at 39.67 and reached 45.46 on April 26, 2024. SYF gained -5.79 points, or -14.60%, in 9 days. The price is now at the 13.64% retracement level.
 Daily Technical Indicators: [See SYF daily technical indicators chart]
Daily Williams' Percentage Range is overbought while Lane's Stochastic is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range or strongly overbought daily Lane's Stochastic. Use the following link to access Lane's Stochastic help.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
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