- DFS stock price is currently trading at $93.34.
- The company stock is at a support which will decide the future trend in market.
Discover Financial Services (NYSE: DFS) company was founded in 1960. The company is a holding company that operates under the Digital Banking and Payment Service segment. The Digital Banking segment focuses on consumer banking and lending product. The payment Service segment provides payment transactions and settlement services on Discover Global Network.
Discover Financial Services (DFS) Stock: Financial Analysis
In the last three years, Discover Financial Services has performed well in their last three revenue report from 2020 to 2022 with an overall growth of 0.20%.
The DFS company has estimated to have 15.65 Billion GBP in the 2023 revenue report. The company has every time achieved its estimated revenue value in the last three revenue reports. This shows that the company is capable to meet the 2023 estimated revenue value.
Discover Financial Services (DFS) Stock: Technical Analysis
Currently, Discover Financial Services stock is trading at £ with an average volume of 3.672 Million and a market capitalization of $23.33 Billion.
In October 2022 the Discover Financial Services Stock price took support from $88.94 support and did a bullish rally. The price got exhausted and was again seen falling to the $88.94 support zone.
The price again in January 2023, commenced a bullish rally from the support zone of $88.94. After reaching to $120 the price faced rejection and again the price was at $88.94 support zone. This made the $84.99 support zone a very strong support as the buyers pushed the price in the upward direction.
In May 2023, once again the buyers were pushing the price in the upward direction to $120 resistance. The price faced rejection and was seen falling with gaps left in the market.
Currently, the price is trading at the $88.94 support zone. According to price action, the price always fills the gap which is left in the market. If the price sustains over the support zone then there is a high chance of price to those gaps which are left.
But if the gives the breakdown of the $88.94 support zone then the price can be seen falling to its next support at $81.73.
Technical Indicators’ Prediction About the Current Trend
The 50 EMA (yellow line) is at $105.99 and the 200 EMA (red line) is at $105.93. The price of DFS is trading below the 50 and 200 EMA which shows that the price is bearish sentiment for now. But the price is trading very far away from the EMA’s which indicates that the price may go up to take support from the EMA lines.
The relative strength index RSI line is at 29.93. The RSI line is in oversold territory which indicates that a pullback can be seen shortly.
Conclusion
The chart of Discover Financial Services is in bearish sentiment for now. But there are many signs where the price can be seen in bullish momentum. Firstly the price is currently at support from where the buyers had pushed the price at various times. Secondly, the price has left gaps in the market which need to be fill according to price action.
Technical levels
Resistance levels: $120.
Support levels: $88.94 and $81.73.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
