Is DFS (Discover Financial) Ready For Next Move Higher?

Discover Financial Services (DFS) provides digital banking products & services, & payment services in United States. It operates through two segments – Digital banking & Payment services.

Discover Financial Services (DFS) provides digital banking products & services, & payment services in United States. It operates through two segments – Digital banking & Payment services. It is based in Riverwoods, Illinois, comes under Financial services sector & trades as “DFS” ticker at NYSE.

DFS favors upside in wave (III), while dips remain above $79.04 low & confirms when break above $135.69 high of (I). Short term, it favors upside in (5) to complete the impulse sequence to be ((1)) of I.

DFS - Elliott Wave Latest Weekly View: 

It ended ((II)) at $23.25 low in March-2020 low in weekly sequence. Above there, it placed (I) at $135.69 high in August-2021 as the part of ((III)). Within (I), it placed I at $43.82 high, II at $27.51 low, extended III placed at $127.65 high, IV at $114.37 low & finally V as (I) ended at $135.69 high. It ended (II) as zigzag correction at $79.04 low in October-2023. Within (II), it placed a red at $87.64 low as diagonal sequence & b at $122.50 high as flat. Below that, it ended c red as (II) at $79.04 low as 0.5 Fibonacci retracement of (I), which missed the extreme areas ($74.42).

Above (II) low, it favors upside in ((1)) of I of (III) & need to break above (I) high to confirm the bullish sequence for further upside. It placed (1) of ((1)) at $113.42 high, (2) at $96.45 low, (3) at $131.65 high & (4) at $119.31 low. It appears in (5) of ((1)), which confirms when it breaks above $131.65 high & may break above (I) high before any larger correction will starts in ((2)). Alternatively, it may pullback in (4) as double correction, if breaks below $119.31 low before turn higher in (5) of ((1)). We like to buy the next pullback in 3, 7 or 11 swings, once it breaks above (I) high. While below that level, it still can be remains sideways.

Source: https://elliottwave-forecast.com/stock-market/dfs-ready-next-move-higher/

Disclaimer: This and other personal blog posts are not reviewed, monitored or endorsed by TalkMarkets. The content is solely the view of the author and TalkMarkets is not responsible for the content of this post in any way. Our curated content which is handpicked by our editorial team may be viewed here.

STOCKS IN THIS BLOG POST

Comments