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Bearish Moving Average Cross by Discover Financial Services (DFS)

By James Quinn

Discover Financial Services (NYSE:DFS) shares have crossed bearishly below their 10-day moving average of $56.13 on a volume of 592K shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

Over the past year, Discover Financial Services has traded in a range of $42.86 to $60.57 and is now at $55.51, 30% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.4%.

SmarTrend recommended that subscribers consider buying shares of Discover Financial Services on March 3rd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $48.35. Since that recommendation, shares of Discover Financial Services have risen 18.2%. We continue to monitor DFS for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses discover financial services

Ticker(s): DFS