RS3175

DFS may start consolidating

Long
RS3175 Updated   
NYSE:DFS   Discover Financial Services
DFS is now at a strong support level. It has started to consolidate. Consolidation may be from several days to several weeks before DFS has a breakout. In the unlikely case if DFS has a breakdown from the current 88 support level, it will go all the way down to the next support level of 67.
Comment:
DFS is forming a descending triangle in a downtrend, which is a bearish signal. Most likely, the current level of support will be broken after a few days and DFS will be in a further downtrend.
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