Synovus Financial Technical Analysis (NYSE:SNV)
Technical analysis relies on the belief that future price movements of a stock can be forecasted through the study of historical market data and technical charts. Just by looking at the Synovus Financial stock price one can't take a trading decision. A trader needs to find a chart pattern, which is a clear cut pattern formation on the SNV stock chart which creates a trading signal.
You can view Simple Moving Average (SMA 20 day, 50 day & 100 day), Exponential Moving Average (EMA 20 day, 50 day & 100 day) charts, and Bollinger Bands for Synovus Financial. Technical analysis is used by finance professionals and is popular among traders, especially day traders. Undertaking Synovus Financial stock analysis using these technical indicators helps identify trading opportunities.
Synovus Financial Moving Average:
Moving averages show the average price of SNV stock over a set time period and help traders see the overall trend by smoothening out the daily variation in price movement. One needs to choose the duration of a moving average depending on the investment objective and investment horizon. For periods greater than 100, it takes a larger and longer SNV stock price movement for the moving average to change course.
Synovus Financial Bollinger Bands:
Bollinger bands consist of two price bands above and below a center line for any company stock like Synovus Financial. The tightening of bands is considered by most traders to be a precursor to sudden increase in volatility. Synovus Financial bollinger bands show that the stock price is $43.45, upper band is 232.61, lower band is 214.34, and the average is 223.47.
Synovus Financial Moving Average Convergence Divergence or MACD:
The moving average convergence divergence or MACD is a technical indicator which helps assess the stock price trend. Traders usually wait for a confirmed crossover signal before entering into a trading position. Divergence implies that the current stock price trend could come to an end, when the stock price diverges from MACD. The Synovus Financial MACD line is below the signal line.
Synovus Financial Relative Strength Index:
This technical indicator compares the relative strength or weakness of a stock. It measures the magnitude of rise or fall in stock price movements . If the RSI of SNV stock goes above 70 it could indicate an overbought condition, and if it goes below 30 it could signal an oversold position. .