Symmetric Triangle Could break down vs up, but overall, this chart looks bullish. If it breaks to the down side, targets are 47.7 43.2 33.4
Stop under C
Not a recommendation
With current stretched valuations, I am avoiding any positions that require 2+ weeks holding to play out. DFS is trading on support with earnings this week, consumer discretionary is the best performing SP500 sector, I am looking for this to show in discover. While American express and now even Mastercard are being dropped by large vendors due to higher fees...
Descending triangle could breakdown further. Technical breakdown.
Shorting with a $3 stop following my ATR on the daily. Looks good I will remove half my position at 47.53.
Then hold.
Good dividends (why I bought and am keeping them). I believe we will continue to see an exponential recovery and then once it is back in its normal price rage a very slow growth but still a growth. I would recommend buying anywhere in the 60 range before it jets to 80, however, it will probably coast after that.
Coming off of all-time highs of about $93, the heavily discounted price of $47 seems appealing, and coming up on some strong support while filling this gap will probably lead to a steady growth for the long term.
DFS is fundamentally weak in XLF in the pandemic giving it's high exposure to personal finance. The first dip is already 0.236 fib line.... So I would use this fib level on leaders in XLF such as JPM as the starter to long.
Undoubtedly banks suffer a lot from personal finance and commercial related loans due to COVID-19. But post 08/09 it's balance sheet was...
Keep in mind, charting patterns in this coronavirus-driven market may seem like a bad idea. So let's take a look at the financials: Dirt cheap even for the recession we're in (P/E ratio: 3.41) and certainly oversold (RSI dropping below 30). Nice paying dividend currently over 5% - DFS is a screaming buy right now. Buy it and ride these tough times out.
Weekly analysis:
- Nice climatic selloff insanely huge volume on earnings day
- Really good bullish volume at support around 75 (this volume is only 3 days in for this week)
- Support at 75 is quite strong (many touches at key levels)
- Weekly is still considered on a uptrend
Daily analysis:
- Nice void above, not much resistance to 2R
- Spinning top followed by...
Stock DFS seasonality starts to Buy date on January 27 and ends Sell date on April 23
Percent Profitable is 83.33% in 12 years and an average return of 10.33% per year
