COF dominated by bulls lifting the market higher throughout the day

Capital One Financial (COF) Technical Analysis Report for Sep 14, 2018

Highlights

COF dominated by bulls lifting the market higher throughout the day
COF finds buyers at key support level
COF pushes through 50-day moving average
COF runs into sellers again around 98.23
COF closes within previous day's range

TQ Sentiment

Report Sentiment: 50% Bullish
Technical Forecast:

Overview

COF ended the week -0.39% lower at 97.99 after gaining $0.99 (1.02%) today on high volume. The bulls were in full control today, moving the market higher throughout the whole session. Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range.

Daily chart for COF

Volatility

Friday's trading range was $1.02 (1.05%), that's slightly below last trading month's daily average range of $1.12. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being below average.

Support/Resistance

After trading as low as 97.21 during the day, the market bounced off the key support level at 97.24. The failure to close below the support could increase that levels importance as support going forward. After having been unable to move above 98.20 in the previous session, the stock ran into sellers again around the same price level today, failing to move higher than 98.23.

Trend

Though Capital One is currently in a short-term down trend, this might just be a correction, as the medium and long term trends are both positive. The share managed to break above the 50-day moving average at 97.51 today for the first time since August 2nd.

Order Flow

Selling could accelerate should prices move below the close-by swing low at 96.93 where further sell stops might get triggered.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Market Conditions for Capital One Financial

Loading Market Conditions for $COF (Capital One Financial)...
Trending Assets

Upgrade your trading!

Get the stats behind the charts

Find out what happened when Capital One Financial traded like this in the past. See the odds for each technical pattern with expected gain and loss.

Find out more
Top Market Movers

Related Stocks

ACGL 10 day candlestick chart for ACGL 30.20 -0.02 (-0.07%)
ADS 10 day candlestick chart for ADS 248.69 0.89 (0.36%)
AFG 10 day candlestick chart for AFG 113.51 -0.83 (-0.73%)
AFL 10 day candlestick chart for AFL 48.04 0.15 (0.31%)
AGO 10 day candlestick chart for AGO 42.28 -0.01 (-0.02%)
AHL 10 day candlestick chart for AHL 41.50 -0.05 (-0.12%)
AIG 10 day candlestick chart for AIG 54.67 0.35 (0.64%)
AIZ 10 day candlestick chart for AIZ 105.21 -0.40 (-0.38%)
AJG 10 day candlestick chart for AJG 75.91 -0.22 (-0.29%)
ALLY 10 day candlestick chart for ALLY 27.54 -0.04 (-0.15%)
You have free reports remaining. Subscribe for unlimited access...SUBSCRIBELOGINGO!