Capital One Financial Corporation Stock Forecast
Capital One Financial Corporation stock upgraded to Buy Candidate.
(Updated on Jun 18, 2024)
The Capital One Financial Corporation stock price gained 2.59% on the last trading day (Tuesday, 18th Jun 2024), rising from $17.38 to $17.83. During the last trading day the stock fluctuated 2.59% from a day low at $17.40 to a day high of $17.85. The price has been going up and down for this period, and there has been a 1.71% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 34 thousand more shares were traded than the day before. In total, 78 thousand shares were bought and sold for approximately $1.40 million.
Given the current short-term trend, the stock is expected to fall -4.32% during the next 3 months and, with a 90% probability hold a price between $15.63 and $17.06 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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COF-PL Signals & Forecast
Mostly positive signals in the chart today. The Capital One Financial Corporation stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $17.43 and $17.26. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, May 29, 2024, and so far it has risen 7.93%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Capital One Financial Corporation has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. The stock had a Golden Star Signal on Wednesday, August 30, 2023 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Wednesday, August 30, 2023 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Capital One Financial Corporation stock
Capital One Financial Corporation finds support from accumulated volume at $17.44 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.450 between high and low, or 2.59%. For the last week the stock has had daily average volatility of 1.38%.
The Capital One Financial Corporation stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought and the RSI is still moving upwards. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely, and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: $16.96 (-4.88%) (This stock has low daily movements and this gives low risk. The RSI14 is 82 and this increases the risk substantially. There is a buy signal from a pivot bottom found 23 days ago.)
Trading Expectations (COF-PL) For The Upcoming Trading Day Of Thursday 20th
For the upcoming trading day on Thursday, 20th we expect Capital One Financial Corporation to open at $17.69, and during the day (based on 14 day Average True Range), to move between $17.57 and $18.09, which gives a possible trading interval of +/-$0.262 (+/-1.47%) up or down from last closing price. If Capital One Financial Corporation takes out the full calculated possible swing range there will be an estimated 2.94% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $17.44 (2.19%) than the resistance at $18.24 (2.30%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Capital One Financial Corporation stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 2.166 Buy Candidate Upgraded
Predicted Opening Price for Capital One Financial Corporation of Thursday, June 20, 2024
| Fair opening price June 20, 2024 | Current price |
|---|---|
| $17.69 ( 0.766%) | $17.83 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for COF-PL
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 18.14 | 1.76% |
| R2 | 17.97 | 0.794% |
| R1 | 17.87 | 0.198% |
| Price | 17.83 | |
| S1 | 17.52 | -1.73% |
| S2 | 17.42 | -2.33% |
| S3 | 17.24 | -3.29% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 18.35 | 2.92% |
| R2 | 18.28 | 2.52% |
| R1 | 18.24 | 2.30% |
| Price | 17.83 | |
| S1 | 17.44 | -2.19% |
| S2 | 17.07 | -4.26% |
| S3 | 17.01 | -4.60% |
FAQ
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