Yahoo Finance Synchrony (SYF) Just Overtook the 20-Day Moving Average
Synchrony (SYF) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, SYF crossed above the 20-day moving average, suggesting a short-term bullish trend.
The 20-day simple moving average is a popular investing tool. Traders like this SMA because it offers a look back at a stock's price over a shorter period and helps smooth out price fluctuations. The 20-day can also show more trend reversal signals than longer-term moving averages.
Like other SMAs, if a stock's price is moving above the 20-day, the trend is considered positive. When the price falls below the moving average, it can signal a downward trend.
Shares of SYF have been moving higher over the past four weeks, up 8.6%. Plus, the company is currently a Zacks Rank #3 (Hold) stock, suggesting that SYF could be poised for a continued surge.
Looking at SYF's earnings estimate revisions, investors will be even more convinced of the bullish uptrend. There have been 6 revisions higher for the current fiscal year compared to none lower, and the consensus estimate has moved up as well.
Given this move in earnings estimate revisions and the positive technical factor, investors may want to keep their eye on SYF for more gains in the near future.
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