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Bearish Moving Average Cross by Capital One Financial (COF)

By Amy Schwartz

Today, shares of Capital One Financial (NYSE:COF) have fallen below their 10-day MA of $64.86 on a volume of 1.6 million shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, Capital One Financial share prices have been bracketed by a low of $58.49 and a high of $92.10 and are now at $64.06, 10% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has advanced 0.6%.

SmarTrend recommended that its subscribers protect gains by selling shares of Capital One Financial on May 6th, 2016 by issuing a Downtrend alert when the shares were trading at $68.93. Since that call, shares of Capital One Financial have fallen 4.8%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses capital one financial

Ticker(s): COF