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Possible Bearish Inside Day Candle Pattern Detected for Capital One Fina (NYSE:COF)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Capital One Fina (NYSE:COF) based on the price action in the company's shares. Yesterday's price range of $98.36 and $99.81 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Capital One Fina may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Potential upside of 13.3% exists for Capital One Fina, based on a current level of $99.24 and analysts' average consensus price target of $112.39. The stock should find initial support at its 50-day moving average (MA) of $92.93 and further support at its 200-day MA of $89.17.

Capital One Financial Corporation provides commercial banking services. The Bank accepts deposits and offers personal credit cards, investment products, loans, and online banking services. Capital One serves customers in the State of Virginia.

In the past 52 weeks, shares of Capital One Fina have traded between a low of $69.90 and a high of $99.99 and closed yesterday at $99.24, which is 42% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.3% while the 200-day MA has risen 0.3%.

SmarTrend is tracking the current trend status for Capital One Fina and will alert subscribers who have COF in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle capital one fina

Ticker(s): COF