Synovus Financial Corp Stock Forecast
Stronger technical forecast for Synovus Financial Corp stock price after Friday trading.
(Updated on Apr 19, 2024)
The Synovus Financial Corp stock price gained 3.01% on the last trading day (Friday, 19th Apr 2024), rising from $33.89 to $34.91. During the last trading day the stock fluctuated 5.22% from a day low at $33.46 to a day high of $35.21. The price has fallen in 6 of the last 10 days and is down by -8.73% for this period. Volume fell on the last day by -4 million shares and in total, 2 million shares were bought and sold for approximately $77.23 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock is at the lower part of a wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $33.90 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Synovus Financial Corp stock with a 90% probability to be traded between $34.21 and $40.54 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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SNV Signals & Forecast
The Synovus Financial Corp stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $36.12 and $38.24. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Some positive signals were issued as well, and these may have some influence on the near short-term development. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 3.01%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Synovus Financial Corp stock
Synovus Financial Corp finds support from accumulated volume at $33.89 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $1.75 between high and low, or 5.22%. For the last week, the stock has had daily average volatility of 3.59%.
Our recommended stop-loss: $33.22 (-4.84%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 1 day ago.)
Trading Expectations (SNV) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Synovus Financial Corp to open at $34.53, and during the day (based on 14 day Average True Range), to move between $33.70 and $36.12, which gives a possible trading interval of +/-$1.21 (+/-3.47%) up or down from last closing price. If Synovus Financial Corp takes out the full calculated possible swing range there will be an estimated 6.94% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $33.89 (2.92%) than the resistance at $36.00 (3.12%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Synovus Financial Corp stock A Buy?
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 1.781 Buy Candidate Upgraded
Predicted Opening Price for Synovus Financial Corp of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $34.53 ( 1.10%) | $34.91 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SNV
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 36.27 | 3.90 % | |
| R2 | 35.60 | 1.99 % | ||
| R1 | 35.19 | 0.81 % | ||
| Current price: | 34.91 | |||
| Support | S1 | 33.86 | -3.01 % | |
| S2 | 33.45 | -4.19 % | ||
| S3 | 32.78 | -6.10 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 38.95 | 11.57 % | |
| R2 | 37.94 | 8.68 % | ||
| R1 | 36.00 | 3.12 % | ||
| Current price | 34.91 | |||
| Support | S1 | 33.89 | -2.92% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
SNV Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 04, 2024 | Mar 20, 2024 | Apr 01, 2024 | $0.380 | 0.97% |
| 2 | Dec 01, 2023 | Dec 20, 2023 | Jan 02, 2024 | $0.380 | 1.01% |
| 3 | Sep 01, 2023 | Sep 20, 2023 | Oct 02, 2023 | $0.380 | 1.43% |
| 4 | Jun 01, 2023 | Jun 14, 2023 | Jul 03, 2023 | $0.380 | 1.23% |
| 5 | Mar 02, 2023 | Mar 15, 2023 | Apr 03, 2023 | $0.380 | 1.27% |
FAQ
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