Discover Financial Services Stock Forecast
Discover Financial Services stock downgraded to Hold/Accumulate
(Updated on Jun 19, 2024)
No changes to the price of Discover Financial Services stock on the last trading day (Wednesday, 19th Jun 2024). During the last trading day the stock fluctuated 0% from a day low at $125.97 to a day high of $125.97. The price has risen in 6 of the last 10 days and is up by 4.52% over the past 2 weeks.
The stock lies in the middle of a falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -2.74% during the next 3 months and, with a 90% probability hold a price between $114.14 and $124.77 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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0IBC.L Signals & Forecast
The Discover Financial Services stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $123.93 and $123.77. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, June 18, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.
A buy signal from a double bottom formation was found on Tuesday, June 04, 2024 and based on theory for this formation the price should go up by 0.82% to $127.01 within 34 trading days since signal was issued (Monday, July 22, 2024).
Support, Risk & Stop-loss for Discover Financial Services stock
Discover Financial Services finds support from accumulated volume at $124.53 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0 between high and low, or 0%. For the last week the stock has had daily average volatility of 0.84%
Our recommended stop-loss: $121.39 (-3.64%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 10 days ago.)
Trading Expectations (0IBC.L) For The Upcoming Trading Day Of Thursday 20th
For the upcoming trading day on Thursday, 20th we expect Discover Financial Services to open at $125.97, and during the day (based on 14 day Average True Range), to move between $124.09 and $127.86, which gives a possible trading interval of +/-$1.88 (+/-1.49%) up or down from last closing price. If Discover Financial Services takes out the full calculated possible swing range there will be an estimated 2.99% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $126.48 (0.40%) than the support at $124.53 (1.15%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Discover Financial Services stock A Buy?
Discover Financial Services holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: -0.193 Hold/Accumulate Downgraded
Predicted Opening Price for Discover Financial Services of Thursday, June 20, 2024
| Fair opening price June 20, 2024 | Current price |
|---|---|
| $125.97 ( 0%) | $125.97 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 0IBC.L
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 125.97 | - |
| R2 | 125.97 | - |
| R1 | 125.97 | - |
| Price | 125.97 | |
| S1 | 125.97 | - |
| S2 | 125.97 | - |
| S3 | 125.97 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 130.53 | 3.62% |
| R2 | 126.79 | 0.647% |
| R1 | 126.48 | 0.401% |
| Price | 125.97 | |
| S1 | 124.53 | -1.15% |
| S2 | 123.22 | -2.19% |
| S3 | 122.06 | -3.11% |
0IBC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 22, 2024 | May 22, 2024 | Jun 06, 2024 | $0.700 | 0.570% |
| 2 | Feb 21, 2024 | Feb 21, 2024 | Mar 07, 2024 | $0.700 | 0.577% |
| 3 | Nov 21, 2023 | Nov 21, 2023 | Nov 21, 2023 | $0.700 | 0.81% |
| 4 | Aug 23, 2023 | Aug 23, 2023 | Aug 23, 2023 | $0.700 | 0.792% |
| 5 | May 24, 2023 | May 24, 2023 | May 24, 2023 | $0.700 | 0.700% |
FAQ
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