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Uptrend Broken SupportArchive
- 4/19/2024 -
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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 4.44 points, or 3.67%, and closed at 125.35 on Friday, April 19, 2024. Weekly volume was -35% 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 (76.56) 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 chart has formed a Rising Channel chart pattern. The trend support level is at 116.07 and resistance is at 136.69. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a medium-term trend.
 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. During the last week, weekly Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal. 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 links to access Lane's Stochastic and 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. 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 April 16, 2024 at 119.31 and reached 126.15 on April 19, 2024. DFS gained -6.84 points, or -5.73%, in 3 days. The price is now at the 11.70% 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.
The daily MACD line is below its signal line since April 2, 2024. The distance between MACD and the signal line is low and getting smaller.
During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
During the last week, the price has moved above the moving average in the center of the Bollinger Bands. 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.
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