Discover Financial Services Stock Forecast
Discover Financial Services stock price ended at $125.04 on Friday, after gaining 0.426%.
(Updated on May 03, 2024)
The Discover Financial Services stock price gained 0.426% on the last trading day (Friday, 3rd May 2024), rising from $124.51 to $125.04. During the last trading day the stock fluctuated 1.39% from a day low at $123.90 to a day high of $125.62. The price has risen in 6 of the last 10 days but is still down by -0.25% for this period. Volume fell on the last day by -401 thousand shares and in total, 791 thousand shares were bought and sold for approximately $98.95 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 12.96% during the next 3 months and, with a 90% probability hold a price between $136.89 and $155.27 at the end of this 3-month period.
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DFS Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Discover Financial Services stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $125.89 and $125.14. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 28, 2024, and so far it has fallen -4.62%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Discover Financial Services stock
Discover Financial Services finds support from accumulated volume at $124.42 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $1.72 (1.39%) between high and low. For the last week, the stock has had daily average volatility of 1.60%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (DFS) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Discover Financial Services to open at $124.85, and during the day (based on 14 day Average True Range), to move between $122.46 and $127.62, which gives a possible trading interval of +/-$2.58 (+/-2.07%) up or down from last closing price. If Discover Financial Services takes out the full calculated possible swing range there will be an estimated 4.13% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $124.42 (0.50%) than the resistance at $128.00 (2.37%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Discover Financial Services stock A Buy?
The Discover Financial Services stock holds several negative signals and despite the positive trend, we believe Discover Financial Services will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -4.250 Sell Candidate Unchanged
Predicted Opening Price for Discover Financial Services of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $124.85 ( 0.149%) | $125.04 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DFS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 126.57 | 1.23 % | |
| R2 | 125.92 | 0.701 % | ||
| R1 | 125.51 | 0.376 % | ||
| Current price: | 125.04 | |||
| Support | S1 | 124.20 | -0.675 % | |
| S2 | 123.79 | -1.00 % | ||
| S3 | 123.13 | -1.52 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 131.09 | 4.84 % | |
| R2 | 129.24 | 3.36 % | ||
| R1 | 128.00 | 2.37 % | ||
| Current price | 125.04 | |||
| Support | S1 | 124.42 | -0.496% | |
| S2 | 120.71 | -3.46% | ||
| S3 | 120.06 | -3.98% |
DFS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 17, 2024 | May 22, 2024 | Jun 06, 2024 | $0.700 | 0.560% |
| 2 | Jan 17, 2024 | Feb 21, 2024 | Mar 07, 2024 | $0.700 | 0.576% |
| 3 | Oct 18, 2023 | Nov 21, 2023 | Dec 07, 2023 | $0.700 | 0.684% |
| 4 | Jul 19, 2023 | Aug 23, 2023 | Sep 07, 2023 | $0.700 | 0.783% |
| 5 | Apr 19, 2023 | May 24, 2023 | Jun 08, 2023 | $0.700 | 0.616% |
FAQ
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