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

By Nick Russo

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 $76.59 and $77.00 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.

There is potential upside of 13.1% for shares of Discover Financi based on a current price of $77.00 and an average consensus analyst price target of $87.08. Discover Financi shares have support at the 50-day moving average (MA) of $76.24 and additional support at the 200-day MA of $72.13.

Over the past year, Discover Financi has traded in a range of $54.36 to $82.51 and closed yesterday at $77.00, 42% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.8%.

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.

SmarTrend is tracking the current trend status for Discover Financi and will alert subscribers who have DFS in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle discover financi

Ticker(s): DFS