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Watch for Discover Financi to Potentially Rebound After Falling 1.43% Yesterday

By David Diaz

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.

Over the past year, Discover Financi has traded in a range of $57.50 to $81.93 and is now at $70.00, 22% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has remained constant.

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