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Possible Bullish Inside Day Candle Pattern Detected for Capital One Financial (NYSE:COF)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Capital One Financial (NYSE:COF) based on the price action in the company's shares. Today's price range of $90.26 and $91.03 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. Traders and investors interested in shares of Capital One Financial may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Capital One Financial has overhead space with shares priced $91.00, or 7.4% below the average consensus analyst price target of $98.22. The stock should discover initial support at its 200-day moving average (MA) of $73.07 and subsequent support at its 50-day MA of $70.29.

Capital One Financial Corporation is a diversified bank. The Bank, through its subsidiaries, offers a broad spectrum of financial products and services to consumers, small businesses and commercial clients both domestically and internationally. Capital One has bank locations in Connecticut, Louisiana, New Jersey, New York, and Texas.

In the past 52 weeks, shares of Capital One Financial have traded between a low of $58.03 and a high of $96.92 and are now at $91.00, which is 57% above that low price. The 200-day and 50-day moving averages have moved 0.55% lower and 0.56% higher over the past week, respectively.

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

Keywords: bullish inside day candle capital one financial

Ticker(s): COF