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 ended wave I as impulse sequence at $135.69 high started from March-2020 low. Below there, it favors pullback in double correction as II & expect sideways to lower towards $74.56 – $44.90 area.
DFS – Elliott Wave Latest Weekly View:
Since March -2020 low of $23.25 as (II), it resumed higher in wave I of (III). It ended ((1)) at $43.82 & ((2)) at $24.14 as dip pullback. Then, it started third wave extension in ((3)), which ended at $127.65 high. Within ((3)), it ended (1) at $66.77 high, (2) at 45.40 low, (3) at $100.96 high, (4) at 81.27 low & finally (5) at $127.65. It ended ((4)) at 114.37 low as shallow pullback. Above there, it ended ((5)) at $135.69 high as wave I of (III).
Below I high, it placed ((W)) at $87.64 low having double three as internal structure. It ended (W) at $100.07 low, (X) at $121.17 high & (Y) at $87.64 low. It placed ((X)) of II at $122.50 high as flat correction. It placed (A) of ((X)) at $119.91 high, (B) at $90.45 low & (C) at $122.50 high. It already breaks below ((W)) low, calling for short term weakness to continue towards blue box area. Currently, it favors lower in 5 of (A) of ((Y)), which expect to end soon before a bounce in (B) connector. It expects to remain choppy to lower in ((Y)) towards $74.56 – $44.90 area, where it should find the buyers to resumes higher in III or at least 3 swing bounce.
Source: https://elliottwave-forecast.com/stock-market/discover-financial-services-dfs-ready-next-rally/