The Greedy Trader Weekly Analysis
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Monthly Pattern:Broadening Ascending Wedge
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Chart Analysis and Chart Pattern Recognition – Broadening Formations

Broadening Formations, including Broadening Ascending Wedge, present inverted triangle patterns. They start with narrow fluctuations, and then widen out between diverging boundary lines. The pattern, where one of the boundary lines is horizontal, is referred to as a right-angled formation. Broadening formations usually mark the reversal when confirmed by other technical indicators.
Broadening formations Screening page presents a list of stocks forming Broadening formation Pattern.
Tips:
# 1
As a reversal formation, Broadening formation Pattern appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators. This situation usually generates divergence on long-term indicators.
# 2 For the best results, chart patterns and trend resistance support should be considered together with other technical analysis signals and technical trading techniques.

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- 3/15/2024 -
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Capital One Financial (COF) Technical Analysis

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Summary:
Weekly :Overbought sectorWilliams' Percentage Range is strongly overboughtRelative Strength Index, Lane's Stochastic and MACD bearish divergence
Daily :Broken trend support lineThe price has fallen below the Parabolic SARThe price has declined below the moving average in the center of the Bollinger BandsThe period of low volatility of the stock pricePrice is close to the 50 Day Moving Average
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It was the negative week for the Capital One Financial (COF). During the week, the COF dropped -1.68 points, or -1.22%, and closed at 135.55 on Friday, March 15, 2024. Weekly volume was -21% 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 uptrend had started on May 4, 2023 at 83.93 and reached 141.17 on March 13, 2024. COF gained -57.24 points, or -68.20%, in 44 weeks. The price is now at the 9.82% retracement level.

Medium-term trend: [See COF medium-term trend chart]
A medium-term uptrend had started on October 25, 2023 at 88.23 and reached 141.17 on March 13, 2024. COF gained -52.94 points, or -60.00%, in 20 weeks. The price is now at the 10.62% retracement level.

Weekly Technical Indicators: [See COF weekly technical indicators chart]
Weekly Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought Williams' Percentage Range. Weekly Relative Strength Index, Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Relative Strength Index, Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with weekly Relative Strength Index, Lane's Stochastic and MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. 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 links to access Lane's Stochastic, Relative Strength Index and Williams' Percentage Range help.

The weekly MACD line is above its signal line since November 10, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. Use the following link to access a MACD help.

Short-term trend: [See COF short-term trend chart]
A short-term uptrend had started on January 18, 2024 at 123.23 and reached 141.17 on March 13, 2024. COF gained -17.94 points, or -14.56%, in 55 days. The chart has formed a Ascending Triangle chart pattern. The uptrend support line (136.82) is broken. A broken support is considered to be a long-term bearish signal. 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 short-term trend.

Daily Technical Indicators: [See COF daily technical indicators chart]
Daily technical indicators are neutral.

The daily MACD line is below its signal line since March 14, 2024. The distance between MACD and the signal line is low and getting smaller.

During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward 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.

During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The distance between the Bollinger Bands is falling, and it was 4.96% on Friday. It is 64.61% 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.

Price is close to the 50 Day Moving Average. 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 52.80
Williams' Percentage Range (W%R) 35.40
Lane's Stochastic (%D-Slow) 69.64
Greed/Fear Indicator (GFI) 62.33
Moving Average Converg./Diverg. (MACD) 1.32
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 71.41
Bearish
Williams' Percentage Range (W%R) 7.70
Strong Overbought
Lane's Stochastic (%D-Slow) 78.55
Bearish
Greed/Fear Indicator (GFI) 74.72
Moving Average Converg./Diverg. (MACD) 7.59 Bearish
Trading Signals
Description Value Chart
Parabolic System 141.31
Weekly Trendline Resistance 140.61
Upper Bollinger Band 140.39
Daily Stochastic Crossing 139.28
Weekly Stochastic Crossing 137.63
20 Day Moving Average 137.08
Weekly Trendline Support 136.82
Price 135.55
50 Day Moving Average 134.47
Lower Bollinger Band 133.67
Sector and Industry
Description Name Rank
Sector Financials 11
Industry Consumer Finance 113
Daily Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Low 129.69
Low Date 02/20/2024
High 141.17
High Date 03/13/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Ascending Triangle
Status Broken Support
Resistance 140.61
Support 136.82
Low 123.23
Low Date 01/18/2024
High 141.17
High Date 03/13/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 88.23
Low Date 10/25/2023
High 141.17
High Date 03/13/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 83.93
Low Date 05/04/2023
High 141.17
High Date 03/13/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 177.95
High Date 08/13/2021
Low 83.93
Low Date 05/04/2023
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.