Discover Financial ($DFS) is in the midst of a 10-month bull run, which has offerred amazing opportunities to buy along the way – like now. Here’s why this stock could offer a nice swing buying opportunity..
Modified PEMA Crossover Buy Signal
The daily chart shows $DFS has been trending steadily higher for ten straight months, opening the door to buying opportunities after each pull-back along the way. As a matter of fact, $DFS has rallied over 100% in the last year, but remains quite bullish.
The Modified PEMA Crossover signal has been stellar throughout the advance and has fired a new Buy Signal after today’s trading, which indicates we could see a new high ahead – likely toward $26.35.
If price breaks through $24.40, look for a steady climb toward $26.35 ahead, with pit stops at $25.20 and $25.75.
Pivot Range Support
Throughout the advance, the pivot range has been a great source of support. Each pull-back has been a buying opportunity off the pivot range – which makes the current setup ideal.
If price continues to hold above the month’s low of $23.74, and especially above the bottom of the range at $22.97, another round of strength should be seen ahead.
Let’s see how this one plays out!
Cheers!
Frank Ochoa
PivotBoss.com
Follow Frank on Twitter: http://twitter.com/PivotBoss
