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Archive
- 5/17/2024 -
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Discover Fincl. Svcs. (DFS) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a first positive week for the Discover Fincl. Svcs. (DFS). During the week, the DFS gained 2.02 points, or 1.64%, and closed at 125.42 on Friday, May 17, 2024. Weekly volume was -40% below average.
DFS is a member of Financials Sector. Financials is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 Long-term trend: [See DFS long-term trend chart]
A long-term downtrend had started on August 13, 2021 at 135.63 and reached 79.04 on October 27, 2023. DFS lost 56.59 points, or 41.72%, in 115 weeks. The chart has formed a Falling Channel chart pattern. The downtrend resistance line (76.02) is broken. A broken support is considered to be a long-term bullish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.
 Medium-term trend: [See DFS medium-term trend chart]
A medium-term uptrend had started on October 27, 2023 at 79.04 and reached 131.65 on March 28, 2024. DFS gained -52.61 points, or -66.56%, in 21 weeks. The price is now at the 11.84% retracement level.
 Weekly Technical Indicators: [See DFS weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Williams' Percentage Range help.
The weekly MACD line is above its signal line since November 24, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. Use the following link to access a MACD help.
Short-term trend: [See DFS short-term trend chart]
A short-term uptrend had started on May 8, 2024 at 122.92 and reached 127.24 on May 16, 2024. DFS gained -4.32 points, or -3.51%, in 8 days. The price is now at the 42.13% retracement level.
 Daily Technical Indicators: [See DFS daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish signal. Use the following link to access Lane's Stochastic help.
The daily MACD line is below its signal line since April 30, 2024. The distance between MACD and the signal line is low and getting smaller.
During the last week, the price has moved above the moving average in the center of the Bollinger Bands. The distance between the Bollinger Bands is falling, and it was 5.71% on Friday. It is 62.40% lower than one year average. It indicates the period of low volatility of the stock price. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
During the last week, the price has advanced above the 50 Day Moving Average. Such crossover is considered a bullish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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