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Discover Financial Services Bearish Moving Average Crossover Alert (DFS)

By Shiri Gupta

Today, shares of Discover Financial Services (NYSE:DFS) have crossed bearishly below their 10-day moving average of $59.52 on a volume of 311K shares. This may provide short-term investors a chance 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 $74.33 and is now at $59.29, 38% above that low. The 200-day and 50-day moving averages have moved 0.15% lower and 1.39% higher over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Discover Financial Services on March 22nd, 2017 by issuing a Downtrend alert when the shares were trading at $67.39. Since that call, shares of Discover Financial Services have fallen 11.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses discover financial services

Ticker(s): DFS