Capital One Could Be Breaking Out
Capital One has been stuck in a range most of the year, but some traders may think a breakout has begun.
The first pattern on today’s chart is the falling trendline along the highs of April and early July. COF surged through the resistance last week and remained above it this week.
Second, the financial stock has turned positive on the week after making a higher low and lower high. Such an inside week is a potentially bullish signal.
Third, the 50-day simple moving average (SMA) is near the 100-day SMA. That highlights the tight price action during its recent basing. Will expansion follow the narrow movement?
Next, MACD is rising and the 8-day exponential moving average (EMA) is above the 21-day EMA. Those patterns could indicate that short-term trends are getting more bullish.
Finally, COF bounced this week near the July 1 high. That may suggest that old resistance has become new support.
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Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options or futures); therefore, you should not invest or risk money that you cannot afford to lose. Online trading is not suitable for all investors. View the document titled Characteristics and Risks of Standardized Options at https://www.TradeStation.com/DisclosureOptions. Before trading any asset class, customers must read the relevant risk disclosure statements on https://www.TradeStation.com/Important-Information/. System access and trade placement and execution may be delayed or fail due to market volatility and volume, quote delays, system and software errors, Internet traffic, outages and other factors.
Securities and futures trading is offered to self-directed customers by TradeStation Securities, Inc., a broker-dealer registered with the Securities and Exchange Commission and a futures commission merchant licensed with the Commodity Futures Trading Commission). TradeStation Securities is a member of the Financial Industry Regulatory Authority, the National Futures Association, and a number of exchanges.
TradeStation Securities, Inc. and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., both operating, and providing products and services, under the TradeStation brand and trademark. When applying for, or purchasing, accounts, subscriptions, products and services, it is important that you know which company you will be dealing with. Visit [url =tradestation.com/DisclosureTSCompanies] TradeStation.com/DisclosureTSCompanies for further important information explaining what this means.
The first pattern on today’s chart is the falling trendline along the highs of April and early July. COF surged through the resistance last week and remained above it this week.
Second, the financial stock has turned positive on the week after making a higher low and lower high. Such an inside week is a potentially bullish signal.
Third, the 50-day simple moving average (SMA) is near the 100-day SMA. That highlights the tight price action during its recent basing. Will expansion follow the narrow movement?
Next, MACD is rising and the 8-day exponential moving average (EMA) is above the 21-day EMA. Those patterns could indicate that short-term trends are getting more bullish.
Finally, COF bounced this week near the July 1 high. That may suggest that old resistance has become new support.
TradeStation has, for decades, advanced the trading industry, providing access to stocks, options and futures. See our Overview for more.
Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options or futures); therefore, you should not invest or risk money that you cannot afford to lose. Online trading is not suitable for all investors. View the document titled Characteristics and Risks of Standardized Options at https://www.TradeStation.com/DisclosureOptions. Before trading any asset class, customers must read the relevant risk disclosure statements on https://www.TradeStation.com/Important-Information/. System access and trade placement and execution may be delayed or fail due to market volatility and volume, quote delays, system and software errors, Internet traffic, outages and other factors.
Securities and futures trading is offered to self-directed customers by TradeStation Securities, Inc., a broker-dealer registered with the Securities and Exchange Commission and a futures commission merchant licensed with the Commodity Futures Trading Commission). TradeStation Securities is a member of the Financial Industry Regulatory Authority, the National Futures Association, and a number of exchanges.
TradeStation Securities, Inc. and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., both operating, and providing products and services, under the TradeStation brand and trademark. When applying for, or purchasing, accounts, subscriptions, products and services, it is important that you know which company you will be dealing with. Visit [url =tradestation.com/DisclosureTSCompanies] TradeStation.com/DisclosureTSCompanies for further important information explaining what this means.
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