Synchrony Financial (SYF)
Macro Outlook ⚠️ Caution ⚠️
- Price has been in an accumulation phase for 9 years.
- In 2021 price finally broke above previous all time high signaling bullish continuation.
- On 2022-2023 price retraced to accumulation range, this was the perfect long entry.
- Now price have been in an 8 month clear uptrend
- … Now what?
- We are currently in a resistance zone.
- If you want to position yourself this is NOT the time to go all in. Instead, dollar cost average your way in. Be aware we might have a retrace to $39 - $29 price range in the next few months but price will still be long term bullish.
- If you are currently holding a position, it might be wise to sell at least 10% now and keep taking profit until the $50 -$54 range.
- If prices manage to make a new high above $53 and show strength we can always jump back in.
https://www.tradingview.com/x/cOLhleYL/
Short Term Outlook 📈 🚀 Bullish 📈 🚀
- Now is a good time to position yourself in.
- Dollar cost average your way in
- Ideal entry at $45.8 - $44
- Trade invalidation if price goes below $43.5
- We are targeting the previous all time high at $53 ish
https://www.tradingview.com/x/LjM8q2P9/
