In-Depth Technical Analysis of CAPITAL ONE FINANCIAL CORP.

We've identified CAPITAL ONE FINANCIAL CORP (NYSE:COF) as a potential breakout candidate based on our stock screener's analysis. This breakout setup pattern suggests that after a strong uptrend, the stock is currently consolidating, potentially signaling a continuation of the trend. Keep an eye on NYSE:COF for further developments.

Technical analysis of NYSE:COF

ChartMill employs a sophisticated system to assign a Technical Rating to every stock in its analysis. This rating, which ranges from 0 to 10, is determined by carefully assessing multiple technical indicators and properties.

Overall COF gets a technical rating of 8 out of 10. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, COF is only an average performer.

• The long and short term trends are both positive. This is looking good!
• In the last month COF has a been trading in the 88.23 - 108.13 range, which is quite wide. It is currently trading near the high of this range.
• When comparing the yearly performance of all stocks, we notice that COF is one of the better performing stocks in the market, outperforming 73% of all stocks. However, this overall performance is mostly based on the strong move around 10 months ago.
• COF is part of the Consumer Finance industry. There are 52 other stocks in this industry, COF did better than 64% of them.
• COF is currently trading in the middle of its 52 week range. The S&P500 Index however is trading in the upper part of its 52 week range, so COF is lagging the market slightly.

For an up to date full technical analysis you can check the technical report of COF

Why is NYSE:COF a setup?

In addition to the Technical Rating, ChartMill provides a Setup Rating for each stock. This rating, ranging from 0 to 10, assesses the level of consolidation in the stock based on multiple short-term technical indicators. Currently, NYSE:COF has a 8 as its setup rating, indicating its current consolidation status.

COF has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately. There is very little resistance above the current price. There is a support zone below the current price at 104.72, a Stop Loss order could be placed below this zone. Very recently a Pocket Pivot signal was observed. This is another positive sign.

Trading breakout setups.

One way to play this would be to wait for the actual breakout to happen and buy when the stock breaks out above the current consolidation zone. A possible place for a stop loss would be below this zone.

Important Note: The content of this article is not intended as trading advice. It is essential to perform your own analysis and exercise caution when making trading decisions. The article presents technical observations generated by automated analysis but does not guarantee any trading outcomes. Always trade responsibly and make independent judgments.

More breakout setups can be found in our Breakout screener.

Disclaimer

This is not investing advice! The article highlights some of the observations at the time of writing, but you should always make your own analysis and invest based on your own insights.