The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Discover Financial Services shares valued at $3,748,193 were sold by Greene John on Jan 26 ’24. At $106.51 per share, Greene John sold 35,191 shares. The insider’s holdings dropped to 18,592 shares worth approximately $2.28 million following the completion of this transaction.
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As published in a research note from Morgan Stanley on February 08, 2024, Discover Financial Services [DFS] has been rated up from an Equal-weight to an Overweight and the price target has been revised to $133 from $105. Analysts at HSBC Securities downgraded the stock from ‘”a Buy”‘ to ‘”a Hold”‘ outlook in a report released in mid January. As of January 10, 2024, Deutsche Bank has initiated its “Hold” rating for DFS. Earlier on January 03, 2024, Piper Sandler upgraded its rating. Their new recommendation was “an Overweight” for DFS stock which previously was a “a Neutral”.
Analyzing DFS Stock Performance
During the last five days, there has been a drop of approximately -1.60%. Over the course of the year, Discover Financial Services shares have jumped approximately 9.26%. Shares of the company reached a 52-week high of $131.65 on 03/28/24 and a 52-week low of $96.46 on 01/18/24. A 50-day SMA is recorded $124.93, while a 200-day SMA reached $105.26. Nevertheless, trading volume fell to 1.04 million shares from 1.98 million shares the previous day.
Support And Resistance Levels for Discover Financial Services (DFS)
According to the 24-hour chart, there is a support level at 121.32, which, if violated, would cause prices to drop to 119.84. In the upper region, resistance lies at 124.31. The next price resistance is at 125.82. RSI (Relative Strength Index) is 44.08 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.36, which suggests the price will decrease in the coming days. Percent R is at 75.08%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
