Synchrony Financial Stock Forecast
Synchrony Financial stock price up more than 5.04% on Wednesday
(Updated on Apr 24, 2024)
The Synchrony Financial stock price gained 5.04% on the last trading day (Wednesday, 24th Apr 2024), rising from $42.86 to $45.02. It has now gained 5 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 5.76% from a day low at $42.70 to a day high of $45.16. The price has risen in 6 of the last 10 days and is up by 8.64% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 124 thousand more shares were traded than the day before. In total, 9 million shares were bought and sold for approximately $384.58 million.
The stock lies in the upper part of a wide and weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $45.11 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 8.38% during the next 3 months and, with a 90% probability hold a price between $43.31 and $48.89 at the end of this 3-month period.
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SYF Signals & Forecast
The Synchrony Financial stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $41.71 and $41.88. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 13.46%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Synchrony Financial stock
Synchrony Financial finds support from accumulated volume at $42.86 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $2.46 (5.76%) between high and low. For the last week, the stock has had daily average volatility of 3.22%.
Our recommended stop-loss: $43.40 (-3.60%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 5 days ago.)
Trading Expectations (SYF) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Synchrony Financial to open at $44.29, and during the day (based on 14 day Average True Range), to move between $43.86 and $46.18, which gives a possible trading interval of +/-$1.16 (+/-2.58%) up or down from last closing price. If Synchrony Financial takes out the full calculated possible swing range there will be an estimated 5.16% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $42.86, some $2.16 (4.80%) from the current price of $45.02, our system finds the risk reward attractive.
Is Synchrony Financial stock A Buy?
Synchrony Financial holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Synchrony Financial of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $44.29 ( 1.61%) | $45.02 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SYF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 46.75 | 3.85 % | |
| R2 | 45.81 | 1.76 % | ||
| R1 | 45.23 | 0.473 % | ||
| Current price: | 45.02 | |||
| Support | S1 | 43.35 | -3.70 % | |
| S2 | 42.77 | -4.99 % | ||
| S3 | 41.83 | -7.08 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 45.02 | |||
| Support | S1 | 42.86 | -4.80% | |
| S2 | 41.57 | -7.66% | ||
| S3 | 40.85 | -9.26% |
SYF Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 24, 2024 | Feb 02, 2024 | Feb 15, 2024 | $0.250 | 0.627% |
| 2 | Oct 19, 2023 | Oct 31, 2023 | Nov 09, 2023 | $0.250 | 0.86% |
| 3 | Jul 20, 2023 | Jul 28, 2023 | Aug 10, 2023 | $0.250 | 0.727% |
| 4 | Apr 20, 2023 | May 01, 2023 | May 12, 2023 | $0.230 | 0.85% |
| 5 | Jan 25, 2023 | Feb 03, 2023 | Feb 17, 2023 | $0.230 | 0.643% |
FAQ
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