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The Potential Rise in the Price of Synchrony Financial (SYF) following insiders activity

Synchrony Financial’s recently made public that its insider Howse Curtis unloaded Company’s shares for reported $1.42 million on May 02 ’24. In the deal valued at $45.00 per share,31,562 shares were sold. As a result of this transaction, Howse Curtis now holds 121,042 shares worth roughly $5.29 million.

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Then, Schaller Bart sold 61,781 shares, generating $2,645,462 in total proceeds. Upon selling the shares at $42.82, the insider now owns 50,757 shares.

Before that, Howse Curtis sold 6,179 shares. Synchrony Financial shares valued at $264,585 were divested by the insider at a price of $42.82 per share. As a result of the transaction, Howse Curtis now holds 152,604 shares, worth roughly $6.67 million.

BTIG Research initiated its Synchrony Financial [SYF] rating to a Buy in a research note published on June 07, 2024; the price target was $60. A number of analysts have revised their coverage, including Keefe Bruyette’s analysts, who increased its forecast for the stock in early May from “a Mkt perform” to “an Outperform”. Wolfe Research also remained covering SYF and has increased its forecast on April 04, 2024 with a “an Outperform” recommendation from previously “an Underperform” rating.

Price Performance Review of SYF

On Friday, Synchrony Financial [NYSE:SYF] saw its stock jump 1.49% to $43.70. Over the last five days, the stock has lost -0.23%. Synchrony Financial shares have risen nearly 14.43% since the year began. Nevertheless, the stocks have risen 27.78% over the past one year. While a 52-week high of $46.72 was reached on 05/06/24, a 52-week low of $27.30 was recorded on 01/18/24. SMA at 50 days reached $43.20, while 200 days put it at $36.99. A total of 2.63 million shares were traded, compared to the trading of 2.67 million shares in the previous session.

Levels Of Support And Resistance For SYF Stock

The 24-hour chart illustrates a support level at 42.92, which if violated will result in even more drops to 42.15. On the upside, there is a resistance level at 44.25. A further resistance level may holdings at 44.81. The Relative Strength Index (RSI) on the 14-day chart is 51.30, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.15, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 45.28%. Stochastics %K at 35.35% indicates the stock is a holding.

The most recent change occurred on January 10, 2024 when Deutsche Bank began covering the stock and recommended ‘”a Buy”‘ rating along with a $56 price target.

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