Synovus Financial Corp (NYSE:SNV) Downgrade From Hold to Sell.
By George Zabel
October 26, 2009 11:39 AM
October 26, 2009 11:39 AM
Symbols: SNV
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.
(c) 2011 Benzinga.com. All rights reserved. This material may not be published in its entirety or redistributed without the approval of Benzinga.
We're Loving
