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 truncated bearish wave structure has completed with a breakout of the descending channel. The Awesome Oscillator shows bullish divergence, while the Stochastic Oscillator indicates oversold conditions.

Trading idea:

Buy on the breakout above 224.55.

Stop Loss – 214.28.

Target levels – 235.85; 249.65.