Technical Analysis Alert for Discover Financial Services (DFS)

Posted on 06/13/2012 by Norm Sorkin

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NEW YORK (AVAFIN) -- Shares of Discover Financial Services closed below the 50-day moving average of $32.88 as of Wednesday. This development is a sign of bearishness as long as prices remain below the moving average. Shares of DFS settled the day down $0.8 to $32.13 on heavier than usual volume. The daily stock range was between $31.97 and $33.01.

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Investor expectations are continuously evolving and often times they change quite rapidly. The breaking through resistance levels can be triggered by fundamental changes that are above or below investor's expectations. Based on the pivot points, the current support and resistance levels for DFS are $31.33 and $33.41 respectively.

The mean analyst rating for the stock is buy. Performance indicators show that the stock has gained 1.65% within the last week.


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