Sunday, October 25, 2009

Stock and ETFs - COF

Capital One popped up on Friday due to the "better than expected" earning report. The entire daily candlestick jumped out of 2 standard deviation Bollinger Bands. The same situations happened twice, but not very bull friendly based on the chart, the two red circles.

Friday's price closed below 61.8% retracement, which is $40.66. Friday's intraday high reached upward trend line from May 2009, and it is the 4th time. Price has been cornered between two upward trend lines - something big is going to happen!

And also the negative divergences are forming on both MACD and RSI.

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