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Look for Shares of Discover Financial Services to Potentially Rebound after Yesterday's 1.79% Sell Off

By David Diaz

Discover Financial Services (NYSE:DFS) traded in a range yesterday that spanned from a low of $55.38 to a high of $56.72. Yesterday, the shares fell 1.8%, which took the trading range below the 3-day low of $56.25 on volume of 2.3 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Over the past year, Discover Financial Services has traded in a range of $42.86 to $60.57 and is now at $56.04, 31% 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 is monitoring the recent change of momentum in Discover Financial Services. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Discover Financial Services in search of a potential trend change.

Keywords: rebounders discover financial services

Ticker(s): DFS