Trade Idea for Capital One Financial Corporation (NYSE)
Capital One Financial Corporation (NYSE)
#COF
The trend is bullish. The stock is trading within the range of the 365 and 135 EMAs and near the lower boundary of the ascending price channel. The descending wave structure is truncated. The Awesome Oscillator shows bullish divergence, and the Stochastic Oscillator indicates oversold conditions.
Trading idea:
Buy on the formation of a bullish wave structure, where wave (A) breaks through the descending channel of the truncated bearish structure.
Stop Loss – 214.30.
Target levels – 237.95; 249.70..
