HunkCoin

Momentum

Million

Billion

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>Discover Financial Services stock price closed at $90.26 with a loss of 2.9% during the last intraday session.</a> </li> 
 <li> <span>2</span> <a>DFS stock price has slipped below all the major exponential moving averages.</a> </li> 
 <li> <span>3</span> <a>One month return of Discover Financial Services has dropped to -23.69%.</a> </li> 
</ul> 
<p>DFS stock price is in a strong downtrend after the release of Quarter 2 financial results as the company did not beat the estimates. The stock price was in bullish momentum since the start of May 2023 and was successful in forming a yearly high at $122.50.&nbsp;</p> 
<p>The consensus estimated the revenue to be $3.885 Billion while the financial services company reported $3.878 Billion, a surprise of -6.826 Million (0.18%). The earning per share also fell short by 0.135 as company reported $3.54.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh5.googleusercontent.com/yXXxtBKAJD5a-8Al6duRpUEoCDTBDJA60L3Q4-l2yZMhGLBlErTlwD2QEWwKe6DuI08TgZ5zydc9tuzG2vuqlhfckIz_ABz87b7rdYzWM1OVBmlVzq9WDNVulmEPfLMvOuoxbUvsCyMp7H8S2uJCjw" alt="Discover Financial Services (DFS Stock) Sinks Amid CEO’s Exit"> 
  <figcaption class="wp-element-caption">
    Source: DFS Stock Price By <a href="https://www.tradingview.com/x/D1Arluwi/" rel="noopener noreferrer nofollow">TradingView</a>. 
  </figcaption> 
 </figure> 
</div> 
<p>The Quarter 2 financial result shifted the trend from strongly bullish to bearish. On 20 July 2023, DFS stock price fell roughly by 15.92% in a single day. After the meltdown, it entered into consolidation zone ranging between $101 and $109. Discover Financial stock price strived to stay above $100 psychological level for more than 20 days.&nbsp;</p> 
<h2 class="wp-block-heading" id="strong-discover-financial-services-reports-sudden-ceo-exit-strong"><strong>Discover Financial Services Reports Sudden CEO Exit&nbsp;</strong></h2> 
<p>On 14 August, 2023, the stock price continued its bearish journey and fell 9.44% breaking the $100 psychological level. The reason behind the sudden fall was related to resignation and departure of its President and Chief Executive Officer, Roger Hochschild, without providing any reasons behind the exit.&nbsp;</p> 
<p>The <a href="https://www.thecoinrepublic.com/2023/07/22/dfs-stock-price-predictionis-dfs-heading-to-new-low/" target="_blank" rel="noopener noreferrer nofollow">consumer financial services</a> company also stated that Hochschild will serve in advisory role throughout the end of 2023 to ensure a smooth transition.</p> 
<p>The analyst suspect the reason might be related to regulatory and risk oversight issues. The stock price melted and closed below major support level of $91. The sudden exit of the CEO has turned the DFS price heavily bearish.&nbsp;</p> 
<p>If the next candle can break the low of last candle and potentially close below $90, then price might head toward the next support level of $82. On the other hand, if DFS stock price can form a support above $90, it might retest the $100 psychological level.&nbsp;&nbsp;</p> 
<h3 class="wp-block-heading" id="strong-will-dfs-stock-price-melt-to-82-if-bearish-momentum-prevails-strong"><strong>Will DFS Stock Price Melt to $82 if Bearish Momentum Prevails?</strong></h3> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh6.googleusercontent.com/Yx1i3Yahz6diI4zY74iFa739NrV80qXVhMb5_Q1pe75Jfz0CiNfyDVdLzN44G_sqpHpMRYITHl77LX5hNJgQjJ0hVDNrXDtQYwSArPxSQhA8coAvZ1z94hG-o1vqi1HWBJDPytqT6fKRA3V4XU1uyA" alt="Discover Financial Services (DFS Stock) Sinks Amid CEO’s Exit"> 
  <figcaption class="wp-element-caption">
    Source: DFS Stock Price By <a href="https://www.tradingview.com/x/uic7KWZa/" rel="noopener noreferrer nofollow">TradingView</a>. 
  </figcaption> 
 </figure> 
</div> 
<p>The <a href="https://www.thecoinrepublic.com/2023/07/22/dfs-stock-price-predictionis-dfs-heading-to-new-low/" rel="noopener noreferrer nofollow">stock price</a> has crossed 20, 50, 100 and 200-day EMAs negatively, implying bearish momentum. Chaikin money flow (CMF) score has dropped to -0.18 indicating weakness in the market.&nbsp;</p> 
<p>The relative strength index has entered into oversold zone and has been hovering below 30 mark since 15th August. RSI stands at 21.46 indicating possibility of short term pullback but the market structure has not shown any signs of bullishness. The DFS stock price has crossed below lower band which also indicates possibility of a pullback.</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong>&nbsp;</h4> 
<p>The market structure and price action of Discover Financial Services is bearish as the earning results ignited bearish momentum in the stock price and sudden exit of&nbsp; Roger Hochschild (President and CEO) fueled it even more.</p> 
<h5 class="wp-block-heading"><strong>Technical Levels</strong></h5> 
<p>Major support: $82 and $75</p> 
<p>Major resistance: $101 and $109</p> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>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.</p>

Discover Financial Services (DFS Stock) Sinks Amid CEO’s Exit

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Thecoinrepublic.com

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