Synovus Financial Corp (NYSE:SNV) Downgrade From Hold to Sell.

Synovus Financial Corp (NYSE: SNV) Downgrade From Hold to Sell.

Wunderlich downgraded Synovus Finanical Corp (SNV) from a hold to a sell today.Technically SNV’s daily chart mirrors this downgrade, and crossed below its 50 day M.A. At $2.69 SNV looks like good value but the technicals are appalling and confirming this broker’s downgrade.

Synovus Financial (SNV) is in a confirmed down trend and about to break down from a bearish flag which creates ideal conditions for a waterfall drop. Definitely good for big magnitude short strategies and simple Put buying strategies.