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

By Nick Russo

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. Today's price range of $101.80 and $102.14 is within yesterday'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.

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.

Potential upside of 10.3% exists for Capital One Fina, based on a current level of $101.90 and analysts' average consensus price target of $112.39. The stock should find initial support at its 50-day moving average (MA) of $94.17 and further support at its 200-day MA of $89.91.

In the past 52 weeks, Capital One Fina share prices have been bracketed by a low of $69.90 and a high of $102.56 and are now at $101.90, 46% above that low price. The 200-day and 50-day moving averages have moved 0.33% higher and 0.63% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Capital One Fina on October 23rd, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $92.34. Since that recommendation, shares of Capital One Fina have risen 10.7%. We continue to monitor COF for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle capital one fina

Ticker(s): COF