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Discover Financial Services Crosses Below its 10-day MA (DFS)

By Amy Schwartz

Today, shares of Discover Financial Services (NYSE:DFS) have fallen below their 10-day MA of $59.50 on a volume of 687K 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 $60.57 and is now at $59.22, 38% 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 July 11th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $55.60. Since that recommendation, shares of Discover Financial Services have risen 7.4%. 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