Synovus Financial Corp (SNV): Price Now Near $41.58; Daily Chart Shows Downtrend on 100 Day Basis

The Hourly View for SNV

At the time of this writing, SNV (Get Ratings)’s price is down $-0.2 (-0.48%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. Of note is that the 20 hour changed directions on SNV; it is now pointing down. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Out of Banking stocks, SNV ranks 61st in regards to today’s price percentage change.

SNV’s Technical Outlook on the Daily Chart

At the moment, SNV’s price is up $0.72 (1.76%) from the day prior. This is a reversal of the price action on the previous day, in which price moved down. Regarding the trend, note that the strongest trend exists on the 20 day timeframe. The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders. The chart below shows SNV’s price action over the past 90 days.

SNV: Daily RSI Analysis

For SNV, its RSI is now at 62.5.
Note: SNV and RSI appear to be diverging in terms of their respective trends, with SNV declining at a slower rate than RSI.