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- 9/22/2023 -
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Capital One Financial (COF) Technical Analysis
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|It was the negative week for the Capital One Financial (COF). During the week, the COF dropped -6.19 points, or -5.93%, and closed at 98.27 on Friday, September 22, 2023. It was the worst weekly loss since May 5, 2023. Weekly volume was -47% below average. |
COF is a member of Financials Sector. Financials is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
Long-term trend: [See COF long-term trend chart]
A long-term downtrend had started on August 13, 2021 at 177.95 and reached 83.93 on May 4, 2023. COF lost 94.02 points, or 52.84%, in 89 weeks. The chart has formed a Falling Wedge chart pattern. The price is near the trend resistance line (99.37). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a long-term trend.
Medium-term trend: [See COF medium-term trend chart]
A medium-term uptrend had started on May 4, 2023 at 83.93 and reached 118.96 on July 19, 2023. COF gained -35.03 points, or -41.74%, in 10 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (144.50) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. COF may retest the broken support line. It is considered to be a resistance line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a medium-term trend.
Weekly Technical Indicators: [See COF weekly technical indicators chart]
Weekly Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Lane's Stochastic. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Lane's Stochastic help.
The weekly MACD line is below its signal line since August 25, 2023. Use the following link to access a MACD help.
Short-term trend: [See COF short-term trend chart]
A short-term downtrend had started on September 15, 2023 at 104.61 and reached 97.65 on September 22, 2023. COF lost 6.96 points, or 6.65%, in 7 days. The price is now at the 8.91% retracement level.
Daily Technical Indicators: [See COF daily technical indicators chart]
Daily Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range. Use the following link to access Williams' Percentage Range help.
The daily MACD line is above its signal line since September 11, 2023. The distance between MACD and the signal line is low and getting smaller.
During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
The price has closed on Friday below the lower Bollinger Band. It is considered a bearish signal. The distance between the Bollinger Bands is falling, and it was 6.27% on Friday. It is 62.61% lower than one year average. It indicates the period of low volatility of the stock price. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
During the last week, the price has advanced above the 50 Day Moving Average. Such crossover is considered a bullish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.