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

By James Quinn

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 $88.44 and $89.93 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.

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.

Capital One Fina share prices have moved between a 52-week high of $106.50 and a 52-week low of $84.94 and closed yesterday at 5% above that low price at $88.87 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.8% while the 200-day MA has remained constant.

Capital One Fina (NYSE:COF) has potential upside of 26.5% based on a current price of $88.87 and analysts' consensus price target of $112.39. The stock should find initial resistance at its 50-day moving average (MA) of $91.08 and further resistance at its 200-day MA of $94.94.

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