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SmarTrend Watching for Potential Rebound in Shares of Discover Financial Services After 1.35% Loss

By Shiri Gupta

Discover Financial Services (NYSE:DFS) traded in a range yesterday that spanned from a low of $55.40 to a high of $56.63. Yesterday, the shares fell 1.3%, which took the trading range below the 3-day low of $55.65 on volume of 1.7 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, Discover Financial Services share prices have been bracketed by a low of $42.86 and a high of $60.57 and are now at $56.33, 31% above that low price. 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 subscribers consider buying shares of Discover Financial Services on March 3rd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $48.35. Since that recommendation, shares of Discover Financial Services have risen 18.2%. We continue to monitor DFS for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders discover financial services

Ticker(s): DFS