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Downtrend Broken Resist.Archive
- 5/10/2024 -
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Discover Fincl. Svcs. (DFS) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the Discover Fincl. Svcs. (DFS). During the week, the DFS dropped -1.64 points, or -1.31%, and closed at 123.40 on Friday, May 10, 2024. Weekly volume was -60% 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 (76.15) 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 downtrend had started on April 24, 2024 at 130.57 and reached 122.88 on May 1, 2024. DFS lost 7.69 points, or 5.89%, in 1 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 116.98 and resistance is at 124.73. A Broadening Descending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a medium-term trend.
 Weekly Technical Indicators: [See DFS weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is above its signal line since November 24, 2023. The distance between MACD and the signal line is low and getting smaller. Use the following link to access a MACD help.
 Short-term trend: [See DFS short-term trend chart]
A short-term downtrend had started on May 6, 2024 at 126.74 and reached 122.92 on May 8, 2024. DFS lost 3.82 points, or 3.01%, in 2 days. The price is now at the 12.57% retracement level.
 Daily Technical Indicators: [See DFS daily technical indicators chart]
Daily Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Lane's Stochastic. 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 Lane's Stochastic help.
The daily MACD line is below its signal line since April 30, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term downtrend is getting stronger.
During the last week, the price has crossed below the 50 Day Moving Average. Such crossover is considered a bearish 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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