After Yesterday's Rally of 2.22% Shares Could Potentially Pullback
Capital One Financial (NYSE:COF) traded in a range yesterday that spanned from a low of $66.99 to a high of $68.04. Yesterday, the shares gained 2.2%, which took the trading range above the 3-day high of $66.38 on volume of 2.6 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
Over the past year, Capital One Financial has traded in a range of $58.03 to $92.10 and is now at $67.78, 17% above that low. 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 3.9%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: rebounders capital one financial