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Downtrend ExhaustionArchive
- 4/5/2024 -
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Synchrony Financial (SYF) Technical Analysis
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| Summary:
| | Weekly :   | | Daily :
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| | It was the negative week for the Synchrony Financial (SYF). During the week, the SYF dropped -1.84 points, or -4.27%, and closed at 41.28 on Friday, April 5, 2024. It was the worst weekly loss since January 12, 2024. SYF was trading at average weekly trading volume.
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 (25.90) is broken. A broken support is considered to be a long-term bullish signal. 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 43.83 on March 14, 2024. SYF gained -16.53 points, or -60.55%, in 20 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (42.73) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. SYF may retest the broken support line. It is considered to be a resistance 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 support in a medium-term trend.
 Weekly Technical Indicators: [See SYF weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range. During the last week, weekly Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal. 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 links to access Lane's Stochastic and 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. Use the following link to access a MACD help.
 Short-term trend: [See SYF short-term trend chart]
A short-term downtrend had started on March 14, 2024 at 43.83 and reached 40.53 on April 2, 2024. SYF lost 3.30 points, or 7.53%, in 19 days. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 39.80 and resistance is at 43.00. A Broadening Descending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a short-term trend.
 Daily Technical Indicators: [See SYF daily technical indicators chart]
Daily Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range.
The daily MACD line is below its signal line since March 15, 2024. This is an indication that the short-term trend is down.
During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
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