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Consumer Finance Industry Stocks Technical Analysis - COFArchive
- 9/8/2023 -
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Capital One Financial (COF) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the Capital One Financial (COF). During the week, the COF dropped -3.58 points, or -3.46%, and closed at 99.92 on Friday, September 8, 2023. Weekly volume was -25% 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 (100.85). 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 (138.25) 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 technical indicators are neutral.
The weekly MACD line is below its signal line since August 25, 2023. The distance between MACD and the signal line is low, but getting bigger. 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 1, 2023 at 104.48 and reached 98.73 on September 8, 2023. COF lost 5.75 points, or 5.50%, in 7 days. The price is now at the 20.70% retracement level.
 Daily Technical Indicators: [See COF daily technical indicators chart]
Daily Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with daily strongly oversold Williams' Percentage Range. Daily Lane's Stochastic and MACD have bullish divergence. Use the following links to access the Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with daily Lane's Stochastic and MACD bullish 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 and Williams' Percentage Range help.
The daily MACD line is below its signal line since September 6, 2023. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term downtrend is getting stronger.
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.
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