timwest
Long

Synchrony FInancial (GE Credit Cards) Downtrend Complete

NYSE:SYF   SYNCHRONY FINL
283 2 8
I am analyzing SYF             this morning - the stock earns roughly 2% per quarter or 8% per year, roughly, so it seems cheap.

I owned it from the IPO and held it for the rally to near 30 in 2014 and sold it. Now I get the chance to repurchase the shares close to what I sold them for. Earnings for the last 4 quarters are 70c, 64c, 66c, 65c, and estimates are for 68c in the current quarter.

I like how the 50% speed line held the advance ( low->high, drop down 50%, draw trendline from origin at the low through the 50% midpoint)

I like how the 5 week mode time for the recent decline is over and we are over last week's high.
I like how the low volume support level held there at 30.

The modes are messy on this one, because if you don't count the "blast-off" bar as part of the mode then the counts are cleaner. This has always been a conundrum of "time at mode" - if you get range expansion from the mode, don't count that bar in your count.

I see upside to the 34.50 level (previous 5-week mode) and I see risk to 29 to stop out for a 3.3/2.2 reward/risk ratio. I view this as a 60%+ chance of a winner.

With the market turmoil going on, this stock has held up quite well and given its Samsung Pay involvement, it could attract some new buyers here lurking around to get started.

Tim 8:04AM EST 9/29/2015 31.16 previous close SYF            
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Great trade!
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