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Discover Financi Set to Possibly Rebound After Yesterday's Selloff of 1.43%

By James Quinn

Discover Financi (NYSE:DFS) traded in a range yesterday that spanned from a low of $69.58 to a high of $70.71. Yesterday, the shares fell 1.4%, which took the trading range below the 3-day low of $70.75 on volume of 884,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, shares of Discover Financi have traded between a low of $57.50 and a high of $81.93 and are now at $70.00, which is 22% above that low price. The 200-day and 50-day moving averages have moved 0.29% higher and 0.01% higher over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Discover Financi on May 29th, 2018 by issuing a Downtrend alert when the shares were trading at $73.56. Since that call, shares of Discover Financi have fallen 3.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders discover financi

Ticker(s): DFS