COF rises to highest close since April 24th


Capital One Financial (COF) Technical Analysis Report for May 17, 2018 [< 1 min read]
Highlights
COF pushes through key resistance level
COF closes above its opening price after recovering from early selling pressure
COF closes higher for the 4th day in a row
COF rises to highest close since April 24th
TQ Sentiment
Report Sentiment: 50% Bullish
Technical Forecast:
Overview

Moving higher for the 4th day in a row, COF ended Thursday at 96.74 gaining $0.99 (1.03%). Today's closing price of 96.74 marks the highest close since April 24th. Trading up to $0.78 lower after the open, Capital One managed to reverse during the session as bulls took control ending the day above its opening price.

Daily chart for COF
Volatility

Thursday's trading range was $2.04 (2.13%), that's slightly below last trading month's daily average range of $2.11. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being above average.

Support/Resistance

Breaking through the key resistance level at 96.69 today, it is now likely to act as support going forward.

Trend

Although the market is experiencing a short-term up trend, this might just be a correction, as both the medium and long term trends are still in negative territory.

Order Flow

Further buying could move prices higher should the market test April's close-by high at 99.15.

Conclusion

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

Market Conditions for Capital One Financial
ConditionForecastDirectionWinAvgWorstBestEvents
Close near high of period TQ Pro Members Only
Bullish Break through SMA 20 TQ Pro Members Only
White Candle TQ Pro Members Only
Bullish Break through SMA 100 TQ Pro Members Only
Price broke through Technical Resistance R1 TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

COF pushes through key resistance level

Jul 16, 2018
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