COF rises to highest close since April 24th
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.
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.
Breaking through the key resistance level at 96.69 today, it is now likely to act as support going forward.
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.
Further buying could move prices higher should the market test April's close-by high at 99.15.
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
|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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