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Possible Bullish Inside Day Candle Pattern Detected for Discover Financi (NYSE:DFS)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Discover Financi (NYSE:DFS) based on the price action in the company's shares. Yesterday's price range of $75.75 and $76.51 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Traders and investors interested in shares of Discover Financi may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Discover Financial Services operates as a credit card issuer and electronic payment services company. The Company issues credit cards and offers student and personal loans, as well as savings products such as certificates of deposit and money market accounts. Discover Financial Services manages automated teller machine networks.

Discover Financi share prices have moved between a 52-week high of $76.88 and a 52-week low of $50.32 and closed yesterday at 51% above that low price at $76.04 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.4% while the 200-day MA has remained constant.

There is potential upside of 0.0% for shares of Discover Financi based on a current price of $76.04 and an average consensus analyst price target of $76.05. The stock should discover initial support at its 200-day moving average (MA) of $52.63 and subsequent support at its 50-day MA of $51.35.

SmarTrend recommended that subscribers consider buying shares of Discover Financi on November 29th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $68.98. Since that recommendation, shares of Discover Financi have risen 9.8%. We continue to monitor DFS for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bullish am inside day candle discover financi

Ticker(s): DFS